The Great Depression
As Ben Bernanke (Chair of the US Federal Reserve System in 2012) commented: To understand the great depression is the Holy Grail of macroeconomics. Not only did the Depression give birth to macroeconomics as a distinct field of study, but also—to an extent that is not always fully appreciated—the experience of the 1930s continues to influence macroeconomists’ beliefs, policy recommendations, and research agendas.” (Bernanke 1995)
KeywordsStock Market Money Supply Public Utility Bank Failure Federal Reserve System
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