Annals of the Fondazione Luigi Einaudi

An Interdisciplinary Journal of Economics, History and Political Science

The Annals is a forum for the free exchange of ideas
among scholars working in the field of social sciences
Volume LII 1 - 2018

Great Depression, 2008 Great Contraction, and World History

Giovanni Gozzini,
pp. 73-80
Cite this article as


Several financial indicators display a secular U-shape curve with peaks in 1929 and 2008. To the contrary, the period of ‘financial repression’ inaugurated by the New Deal regulation is marked until 1970 by the absence of banking and currency crises. The main hypothesis of the article is that the 2008 crisis is the consequence of an autonomous process of financial globalization which begins in the 1960s with the expansion of the so-called Eurodollars and goes on over the 1970s with the market of petrodollars. The deregulation increasingly practiced by Western governments since 1973 is an effect rather than a cause of the cross-border flows of capital.
  • Foreword to the Symposium on Global History

    Francesco Tuccari
    Volume LII 1 - 2018 pp. 33-34
    Cite this article as DOI: 10.26331/1031
  • Global History: Structures, Strategies, Open Problems

    Marco Meriggi
    Volume LII 1 - 2018 pp. 35-44
    Cite this article as DOI: 10.26331/1032
  • Geographies of Global History

    Laura Di Fiore
    Volume LII 1 - 2018 pp. 45-52
    Cite this article as DOI: 10.26331/1033
  • The Great Divergence vingt ans après: Toward a Medium-term Synthesis?

    Vittorio H. Beonio Brocchieri
    Volume LII 1 - 2018 pp. 53-62
    Cite this article as DOI: 10.26331/1034
  • Early Modern History in the Journal of Global History

    Patrizia Delpiano
    Volume LII 1 - 2018 pp. 63-72
    Cite this article as DOI: 10.26331/1035