The Great Depression and 'Embedded Liberalism'

The Great Depression posed a serious threat to democratic capitalism as economic nationalism flourished and Communism and Fascism offered alternative models. In response, democratic capitalism was remade. Domestically, inequalities of wealth were reduced and social welfare extended to create a social contract between capital and labour. Internationally, new organisations created a rules-based international regime. Together, the result was ‘embedded liberalism’ that contained economic nationalism and allowed recovery of the international economy and rapid post-war growth alongside improvements in domestic welfare.
A lecture by Martin Daunton
The transcript and downloadable versions of the lecture are available from the Gresham College website:
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[@syedadeelhussain2691]

That is true, what has been said by the Professor of economic history. If people expect prices to go in a certain direction, they will take pre-emptive measures to hedge themselves. This is one problem which makes the monetary policy both ineffective and inundated.

[@pjkkerr]

Trump criticised Germany for becoming dependent on Russian gas, so he understood the threat to Europe from that. He also criticised the Europeans, and Germany in particular for not pulling their weight in NATO, indicating that he took the alliance more seriousy, rather than less. Perhaps we should rather say that the invasion would have been less likely had Trump been reelected.

[@andrescastro4836]

Dear Mr Daunton, America is a Continent not a country. What if you were to refer to Germany as "Europe". What do you think the other countries and citizens in the area would say? I know Oxford Dictionary uses now *Merica for the US of A. Excellent presentation sir, thanks very much. Kindest regards from Vancouver Island, Canada, one of the 20+ countries in America. Yes N, C and S. We are all americans around here. Born in the southern part now I live in the northern part. Very simple.

[@Rnankn]

Europeans call the new world America, it is not inaccurate. North or South, it is all America. The anomaly is the US doesn’t have its own country name.

[@keithklassen5320]

Everyone, even us Canadians, call the USA "America"; no point being obtuse.

[@mokomothman5713]

What a waste of data typing your comment. Your carbon footprint grew.