What Ended the Great Depression? Re-Evaluating the Role of Fiscal Policy

Conventional wisdom contends that fiscal policy was of secondary importance for the economic recovery in the 1930s. The recovery is then connected to monetary policy that allowed non-sterilised gold inflows to increase the money supply. Often this is shown by measuring the fiscal multipliers and demonstrating that they were relatively small. This paper shows that problems with the conventional measures of fiscal multipliers in the 1930s may have created an incorrect consensus on the irrelevance of fiscal policy. The rehabilitation of fiscal policy is seen as a necessary step in the reinterpretation of the positive role of New Deal policies for the recovery.

The Intersection of Economics and Politics in a Small OPEC Country: the Case of Ecuador, 1990 - March 2014

Today, crude oil remains a vital resource all around the world. This non-renewable resource powers countries worldwide. Besides serving as an energy source, crude oil is also the most important component for different world economies, especially in developing countries. Ecuador, a small member of the OPEC oil cartel, presents a case where its economy is oil dependent. A great percentage of the country¿s GDP and government¿s budget comes from oil revenues. Ecuador has always been a primary exporter of raw materials. In the last centuries, the country experienced three important economic booms: cacao, bananas, and, ultimately, crude oil. In this sense, the country has not been able to fully industrialize and begin to export manufactured goods, i.e., Ecuador suffers from the Dutch disease. The latter has deterred Ecuador from achieving broad-based economic development. Given crude oil¿s importance for the Ecuadorian economy, the government has always tried to influence the oil industry in search of profits and benefits. Therefore, this thesis, explores the question: how and to what extent have political interventions affected the oil industry in Ecuador from 1990 until March 2014? In general, this thesis establishes an economic history context during the last twenty-four years, attempting to research how political interventions have shaped Ecuador¿s oil industry and economy. In the analysis, it covers a period where political instability prevailed, until Rafael Correa became president. The thesis examines Ecuador¿s participation in OPEC, trying to find explanations as to why the country voluntarily left the organization in 1992, only to rejoin in 2007 when Correa rose to power. During the ¿Revolución Ciudadana¿ period, the thesis researches reforms to the Law of Hydrocarbons, variations in the relations with other nations, the controversy surrounding the Yasuní-ITT oil block, and the ¿Refinería del Pacífico¿ construction. The thesis is an Industrial Organization detailed case study that analyzes, updates, and evaluates the intersection of economics and politics in Ecuador¿s crude oil industry during the last 24 years. In this sense I have consulted past theses, newspaper articles, books, and other published data about the petroleum industry, both from a global and Ecuadorian perspective. In addition to published sources, I was able to interview sociologists, public figures, history and economics academics, and other experts, accessing unique unpublished data about Ecuador¿s oil industry. I made an effort to collect information that shows the private and public side of the industry, i.e., from government-related and independent sources. I attempted to remain as objective as possible to make conclusions about the appropriate Industrial Organization policy for Ecuador¿s oil industry, addressing the issue from an economic, social, political, and environmental point of view. I found how Ecuador¿s political instability caused public policy to fail, molding the conduct and market structure of the crude oil industry. Throughout history, developed nations have benefited from low oil prices, but things shifted since oil prices began to rise, which is more beneficial for the developing nations that actually possess and produce the raw material. Nevertheless, Ecuador, a victim of the Dutch disease due to its heavy reliance on crude oil as a primary product, has not achieved broad-based development.

Public Drinking in the Early Modern World: Voices from the Tavern, 1500-1800

Until recently the role of the public drinking house has been approached from elitist, folkloric and anecdotal perspectives. The work of a new generation of social historians, however, has raised the tavern’s profile in the academic consciousness and confirmed its position within the mainstream of social and cultural history. It is now recognized that an understanding of the centrality of public drinking to the development of both elite and popular culture is vital to studies of social behaviour. The study of taverns has also been at the forefront of emerging interest in the history of consumption and material culture, and has contributed to a richer understanding of economic history. Constructions of gender and identity are also visible through research into the patterns of behaviour and discourse in and around the public house. This four-volume reset edition presents a wide-ranging collection of primary sources which uncover the language and behaviour of local and state authorities, of peasants and town-dwellers, and of drinking companions and irate wives. The documents are translated and set in their social and historical context, providing a multidisciplinary collection that will be of great importance to scholars of all areas of social and cultural history of the early modern period. The vast majority of this material is published here for the first time, ensuring that the collection will open up new avenues of research. Volume 1 draws heavily from the Parisian police archives and includes inspectors’ reports, complaints by the general public and details of court cases to build a picture of drinking in early modern France. Volumes 2 and 3 address public drinking in the Holy Roman Empire through a variety of chronicles, civic ordinances, court records, travel reports and surveys of public houses. Volume 4 locates taverns within a broader analysis of America’s public houses, drawing on visual material as well as journal entries, business reports and newspaper articles. Each volume is accompanied by editorial introductions and is annotated to provide readers with a high-quality resource of scholarly material.

An Analysis Of U.S.- Economic Policy Toward Chile During The Cold War

This examination of U.S. economic policy directed toward Chile centered on the political and economic changes that occurred within Chile between 1960 and 1988. During this time, U.S. economic policy directed toward Chile was crafted by members of the American government uneasy with Cold War concerns with the most important of which being the spread of Communism throughout the globe. By viewing U.S. policy toward Chile through this Cold War lens, this thesis explores the different ways in which economic policy was used to advance the political and economic goals within not only Chile, but also Latin America as a whole. The Cold Warriors that crafted and enacted these economic policies were motivated by a variety of factors, and influenced by events outside of their control. From President John F. Kennedy to Ronald Reagan, American policymakers utilized economic policy as a means to achieve regional goals. This project sheds light on an understudied section of U.S. foreign policy history by exploring the way that economic policy helped achieve Cold War objectives in the Southern Cone.