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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