Birmingham school (economics)

The Birmingham School was a school of economic thought that emerged in Birmingham, England during the post-Napoleonic depression that affected England following the end of the Napoleonic Wars in 1815. == Overview == Arguing an underconsumptionist theory – attributing the depression to the fall in demand due to the end of the wars and end of war mobilization – Birmingham School economists opposed the gold standard and advocated the use of an expansionary monetary policy to achieve full employment.

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