The Great Depression - Chapter One

The most important analysis of the great depression skips over the period from 19 21 to 19 29. This is because milton freedman wouldn't have become the monetary authority if he'd actually tried to dig into this and come up with an honest explanation for why the crash had happened. The us. Went off the gold standard in 19 17, so as a result, from 19 14 to 19 17, gold went from britain to the us. So there was a recession in 19 21 but it ended very quickly without any government intervention.