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The Great Depression

The Great Depression was one of the defining moments in economic and political history. Stock prices crashed. Banks closed. Millions were unemployed. There was a breakdown in trade.  The result was a decade and a half long depression. Its most lasting effect was a transformation of the role of the federal government in the economy.

A clear understanding of the events of the Great Depression is essential to our understanding of how the government functions and how public policy decisions help or hurt the economy today.

What caused the Great Depression? Why was the downturn so deep? Why was the recovery from the Great Depression so slow?
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Suggested Resources
  • Great Myths of the Great Depression  by Lawrence W. Reed
  • The Depression You've Never Heard Of 1920-1921  by Robert P. Murphy
  • The Great Depression  by Hans F. Sennholz
  • World War II Did Not End the Great Depression   by Art Carden
  • Regime Uncertainty: Why the Great Depression Lasted So Long and Why Prosperity Resumed after the War by Robert Higgs
  • Wartime Prosperity? A Reassessment of the U.S. Economy in the 1940s by Robert Higgs


 
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