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reconcile why deflation/low nominal spending apparently had such large real effects during the 1930s, but not during other … periods of significant deflation …
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reconcile why deflation/low nominal spending apparently had such large real effects during the 1930s, but not during other … periods of significant deflation …
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Today FDR's New Deal is regarded as the democratic ideal, the positive American response to the economic crisis that propelled Germany and Italy toward Fascism. Yet in the 1930s, these regimes were hardly considered antithetical. Cultural historian Schivelbusch investigates their shared elements...
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