Bernanke on the Great Depression
The great depression was one o0f the major economic historical events in United States history. Traditionally history considers this tine period from the stock market crash of 1929 and running either until 1939 with American economic involvement in the European war or the end of world war two in 1945. In order to best analyze this time period in history and explain or analyze the economic situation and its impact on the history of the United States important to review and understand the economic philosophy behind the crash and subsequent depression. One such view is espoused by macroeconomics Ben Bernanke in his article the Macroeconomics of the Great Depression: a comparative analysis published in the Journal of money Credit and Banking. He uses economic concepts like supply, demand, the gold standard, and monetary shocks to describe the outcomes caused by the great contraction. To emphasize the effects of monetary shocks Bernanke focusses on deflation influence financial crisis a