The Great Depression

The Great Depression

Peter Eisenhardt

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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The Great Depression

16 mins 7 secs

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:

  • 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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