GIPE-PUNE-OIIOI2 - DSpace@GIPE

Tbe World-Crisis in its Bearings on tbe Regions
of tbe Second and tbe First Industrial
Revolutions l
The words •• economic catastrophe" are on everybody's
lips to-day . We in India are used to associate the
phenomenon in a special manner with the happenings in
Eur-America. The subject calls for an objective
analysis.
It would be a mistake to suppose that Eur-America
has been heading towards an economlC disaster.
The depression with which one has been commg
I
The present study calls attention to certain problems of the crisisunemployment
complex of 1929-32, which do not appear to have been
adequately examined by the League> of Nations and the International
Labour office.
It is not intended here to summarise their views which
may be consulted in The Course and Phases of the World Economic
Depression (Geneva 1931), Problemes du CMmage en 1931 (Geneva 1931).
and to a certain extent in The Social A _peets of Rationalisation (Geneva
1931). See in this connection Gini: "La Crisi Mondiale" (La Vita
Economica Italian"" Rome, March 1931). An American. interpretation may
he s..en in Snyder:
'The World-Depression of 1930" and the discussions
of the American Economic Association (American Economic Reoiew, Supplement,
March 1931).
So~e of the latest. British interpretations are to be found in The
World's 'l::conomic Crisis and the Way of Escape by Saltor, Stamp,
Keynes, Blackett, C,lay and Beveridge (London 1(32). The "Factors in
Recovery" have been analyze4 in the Economist (London), folr numbers
of May 1932.