Depression politics. State economic and social policy in Finland during the recession years 1929–1933

The study examines the content and social consequences of Finland’s economic policy during the recession of the 1930s.

Two well-known myths frame the period: Finland recovered from the recession exceptionally quickly, and it was “the only nation that paid its debts.” The study does not seek to debunk these myths but to examine what lies concealed behind them — at whose expense success was achieved.

Earlier research is unanimous that economic policy — in particular wage policy — weakened consumers’ purchasing power and caused hardship to many segments of the population, even though it benefited the national economy as a whole. The study poses three questions: which groups paid the price, how great that price was, and what made it possible in the first place to continue this politically unpopular policy. (AI translation)

• ISSN: 0358-5980
• ISBN: 951-9281-77-0