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This chapter compares alternative explanations of the Great Depression: the Monetarist explanation of (Friedman and Schwartz,.A Monetary History of the United States, 1867-1960, Princeton University Press, 1963), the Austrian explanation of Hayek and (Robbins,.The Great Depression, Macmillan,...
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I as the underlying cause of a sustained international price deflation that brought the Great Depression. And, he argues … monetary policy contributed to the international deflation is new in the literature. He reaches provocative conclusions about …
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