The Great Depression

The Great Depression

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.
Overview

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:

  • List 10 metrics that defined how serious The Great Depression was

  • What were some of the economic policy responses and were they effective?

  • Describe the market environment in the run-up to the Crash

  • List key market reforms following 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

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Summary
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