There Will Be the Devil to Pay: Central Bankers, Uncertainty and Sensemaking in the European Financial Crisis of 1931

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Abstract

The European financial crisis of 1931 was a pivotal moment in the economic and financial history of the twentieth century. Based on extensive archival research and a cultural conceptual framework, There Will be the Devil To Pay offers a new and much needed understanding of the European financial crisis. It tells the dramatic story of the five months that led to the breakdown of the gold standard, writing the history of the crisis from the perspective of central bankers, private bankers, and government officials. It provides a new narrative of how those involved struggled to understand and respond to the crisis as it unfolded. Contributing to the emerging literature on radical uncertainty and narrative economics, this book provides a detailed analysis of how decision-makers confront uncertainty and shape narratives that create actionable knowledge and enable decision-making.
Original languageEnglish
Place of PublicationCambridge
PublisherCambridge University Press
Number of pages522
ISBN (Print)9781009505314, 9781009505284
ISBN (Electronic)9781009505307
DOIs
Publication statusPublished - 2024
SeriesStudies in Macroeconomic History

Bibliographical note

Published online: 21 December 2024.

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