The Economic Weave

The Great Depression was not just another downturn; it was a defining economic catastrophe of the twentieth century. Scholars still debate its causes, offering explanations that range from monetary contraction to structural weaknesses in banking and trade. Monetary economists stress the Federal Reserve’s contraction of the money supply in the early 1930s. Keynesians point to weak aggregate demand and call for government spending as the remedy. Still others highlight agricultu