First published in 1922, Hobson's study of the depression and
resulting unemployment in the aftermath of the First World War is a
far-sighted analysis which looks beyond the consequences of the war
itself, at the root economic causes of the crisis. Dealing with
issues such as the failure of consumption, trade fluctuations, the
balance of spending and saving, and spiralling credit as factors
which lay at the root of the depression, Hobson's study is a
document of considerable economic, social and historical value,
which still has much to teach the modern reader, whether interested
layperson or student of economics.
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