causes of great depression great recession
The causes of the Great Recession: mainstream and heterodox interpretations and the cherry pickers. Abstract. The Great Recession of 2008Â­9 was the deepest and longest capitalist economic. slump since the Great Depression of 1929Â­32. Yet, the official strategists of economic.
Essentially, the Great Depression, in their view, was caused by the fall of the money supply. The result was what Friedman calls the Great Contraction â a period of falling income, prices, and employment caused by the choking effects of a restricted money supply.