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Essays on the Great Depression by Ben S. Bernanke (Paperback, 2004)

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Product Description : From the Nobel Prizewinning economist and former chair of the US Federal Reserve a landmark book that provides vital lessons for understanding financial crises and their sometimescatastrophic economic effectsAs chair of the US Federal Reserve during the Global Financial Crisis Ben Bernanke helped avert a greater financial disaster than the Great Depression And he did so by drawing directly on what he had learned from years of studying the causes of the economic catastrophe of the 1930swork for which he was later awarded the Nobel Prize This influential work is collected in Essays on the Great Depression an important account of the origins of the Depression and the economic lessons it teaches

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Few periods in history compare to the Great Depression. Stock market crashes, bread lines, bank runs, and wild currency speculation were worldwide phenomena - all occurring with war looming in the background. This period has provided economists with a marvelous laboratory for studying the links between economic policies and institutions and economic performance. Here, Ben Bernanke has gathered together his essays on why the Great Depression was so devastating. This broad view shows us that while the Great Depression was an unparalleled disaster, some economies pulled up faster than others, and some made an opportunity out of it. By comparing and contrasting the economic strategies and statistics of the world's nations as they struggled to survive economically, the fundamental lessons of macroeconomics stand out in bold relief against a background of immense human suffering. The essays in this volume present a uniquely coherent view of the economic causes and worldwide propagation of the depression.