Moshenskyi S. From Global Imbalances to the "Great Depression" (1914-1939)

About the Book

This book is devoted to a difficult period in the history of the securities market between the First and the Second World Wars. It was then when collapse of the global financial system began. Financial relationships set in the late XIX – early XX centuries around British Empire and London, the main financial centre of the “first globalization” era, were breaking. This long and painful process, complicated by the collapse of the gold standard system, created global imbalances of the 1920s, associated with huge war debts and overflowing gold from Europe to the United States. Those imbalances spawned not only the “Great Crash” in 1929, but also the “Great Depression” of the 1930s, in many ways resembling the “Great Recession” at the beginning of the XXI century.

About the Author

Sergey Z. Moshenskiy (ec@planeta.ua) – Doctor of Economics, Professor, Honored Economist of Ukraine, Director of Economic and Legal Affairs of the Group of companies “Planet” (Kiev). Author of books focusing on the history of financial and securities markets – “History of the Weksel” (published in English in the USA), “Weksel. Basic Concepts”, “Securities Market. The processes of transformation”, “Securities Market of the Russian Empire” (in Russian). “Research in the field of financial history suggests global context coverage” – said prof. S. Z. Moshenskiy. “Modern scientists need to be part of the intellectual elite of the global post-industrial society. Because innovative impulse, as intellectual freedom – freedom of thought stereotypes and bias, freedom of intellectual creativity – can give only a global context. Global space of ideas”.