Essays on the Great Depression

In 'Essays on the Great Depression', Ben S. Bernanke compiles his influential work from the 1980s and 1990s on the financial and labor markets during the 1930s.

The book examines the causes and consequences of the Great Depression, highlighting the role of the international gold standard, the contraction of world money supplies, and the responses of the US Federal Reserve.

Bernanke argues that the Great Depression was significantly influenced by a 'deflationary vortex' of falling prices, output, and employment.

The essays also discuss the economic recovery under Franklin Roosevelt's administration and the lasting impact of the Great Depression on macroeconomic policies and research agendas.