1. What do you see as the socio-political impact of the "Panic
... the newspapers, in monographs, and in the halls of legislatures. Particularly striking is the high caliber economic thinking of the influential journalists of the day and of many leading political figures. The absence of specialized economists was in a way compensated by the economic knowledge and intelligence of the articulate members of the community, including the leading statesmen. One ... enforcement of specie payment. Sound money writers conceded that monetary contraction would bring temporary disturbances, but declared that any legislative intervention would only aggravate the si...
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- Grade Level: Undergraduate