Understanding the Great Depression: Monetarist vs Keynesian Perspectives

The video explores the Great Depression, a major economic event, highlighting its causes, impacts, and theoretical perspectives. It differentiates between recession and depression, emphasizing the severity and duration of the latter. The US experienced a significant economic downturn, with a stock market crash, high unemployment, and deflation. The impact was less severe in the UK and Europe. Theoretical explanations include monetarist and Keynesian views, focusing on monetary and fiscal policies. The video concludes with a transition to the global financial crisis.

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