We compare the experiences of the US and UK during and after the Great Depression, with particular attention to overall productivity growth, industrial organization, the growth of human capital, and protectionism. We discover many implications of the Great Depression experience and policies for...

We describe in this essay why the gold standard and the euro are extreme forms of fixed exchange rates, and how these policies had their most potent effects in the worst peaceful economic periods in modern times. While we are lucky to have avoided another catastrophe like the Great Depression in...

Globalization--the integration of the world economy--has ebbed and flowed over the twentieth century. This paper surveys the varying flows of goods, people, and capital around the world. It asks also about the flow of information across national boundaries and the flows of all these various...