30 years: Capital markets & investment banking
Peter provides an overview of the effects and causes of the 10-year great depression, which began with the stock market crash of October 1929.
Peter provides an overview of the effects and causes of the 10-year great depression, which began with the stock market crash of October 1929.
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16 mins 9 secs
The Great Depression began with the October 1929 U.S. stock market crash. The Great Depression significantly impacted the US economy and the world. Causes of the Great Depression can be narrowed down to policy in the real economy, specifically errors within monetary policy, and the structure of the markets which were largely unregulated.
Key learning objectives:
Describe the market environment in the run-up to the Crash
Describe the four monetary policy errors outlined by Milton Friedman and Anna Schwartz in “A Monetary History of the United States, 1867-1960” that they cite as the most powerful causes of the Depression
Outline 10 metrics that defined how serious The Great Depression was
Comprehend some of the economic policy responses
Outline the key market reforms following the Crash
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Over-optimistic business investment during the 1920s had made a downturn inevitable. To understand the Depression and prevent it from happening again, governments and economists made poor economy policy choices that arguably made things worse:
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