The Great Contraction, 1929-1933
New Edition
Milton Friedman|Anna Jacobson Schwartz
The book presents a detailed analysis of the causes and consequences of the Great Depression, focusing on the role of monetary policy mistakes made by the Federal Reserve. It argues that these errors led to a severe contraction of the money supply, exacerbating the economic downturn and turning what could have been a mild recession into a prolonged depression.
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