Buultje --
Both Milton Friedman and his mentor, Austrian economist Friedrich
August von Hayek, both argued that monetary policy and interference by
governments created and deepened the Great Depression.
A good way to introduce yourself to the topic is to hear Friedman talk
about the Great Depression in the is PBS interview:
Public Broadcasting Service
"Measurements & Myths of the Great Depression"
http://www.pbs.org/fmc/interviews/2seg1.htm
Friedman's landmark book tied the Great Depression to the failure of
the Federal Reserve to adjust the money supply to conditions in his
book (co-written with Anna Schwartz), "A Monetary History of the
United States, 1867-1960" Princeton University Press, 1963. You can
find analyses and supporting articles (including articles by Milton
Friedman) in numerous places:
Liberty Haven
"The Mysteries of the Great Depression Finally Solved" (Skousen, July, 1997)
http://www.libertyhaven.com/theoreticalorphilosophicalissues/economichistory/mysteries.shtml
European Central Bank
"The Great Depression and the Friedman-Schwartz Hypothesis,"
(Christiano et al, March 2004)
http://www.ecb.int/pub/wp/ecbwp326.pdf
The Federal Reserve Board
"Money, Gold and the Great Depression," (Bernanke, March 2, 2004)
http://www.federalreserve.gov/boarddocs/speeches/2004/200403022/default.htm
Several of Hayek's articles are noted in this Google Answer. Hayek
may make an even MORE interesting case than Friedman because of
willingness to directly argue policy issues with John Maynard Keynes:
Google Answers
"Hayek's View of the Causes of the Great Depression," (Omnivorous, Mar. 20, 2004)
http://answers.google.com/answers/threadview?id=318354
A Google search strategy using the following will yield thousands of
links, many to academic articles and journals:
"Milton Friedman" + "Great Depression"
Best regards,
Omnivorous-GA |