Causes and Effects of the Great Depression
The paper examines the theories and views of four economists as recorded via interviews in the book "Reflections on the Great Depression": Paul Samuelson, Milton Friedman, Anna Schwartz and James Tobin. The paper offer a brief analysis of these theories in the context of both the Great Depression and the contemporary economic climate. The paper concludes with a brief analysis of the four economists, and a discussion regarding larger questions raised by both the economic trends and the historical lessons learned from the Great Depression.
From the Paper:"The Great Depression was a very troubling and destabilizing period in American history. Millions of Americans were left unemployed, hungry, and anxious for the future of their children and of their country. This noted period in history is often discussed in many academic circles, but most notably, the economists take on the period is especially important. Many economists have differing opinions on the Great Depression, yet one constant remains: this period in American history is one that should be thoroughly remembered and used as a standard by which we can measure the current economic climate in contemporary America."