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The Great Depression and the Euro Area had problems and issues that led to an economical crisis. Milton Friedman and Anna J. Schwartz, authors of the book, A Monetary History of the United States, 1867-1960, argued that monetary forces and the even finish in the currency supply was the baffle of the Great Depression. many critics believed otherwise. They believed that the slump in the money supply would actually be a answer to and not a precedent of the decline in output and prices (Bernanke). In addition, The Gold standard compete a big role during the great depression and abnormal the economic flow. In Dennigs article, there were key issues in metre money supply and are still prevalent today. The deficiency of powerful jazzership during the Great Depression and harmonisation during Euro Area brought instability. Friedman and Schwartz, pinpointed pivotal errors by U.S monetary policymakers that may have led to the actor of the Great Depression. One of the mistakes that they found occured during the early stage of the depression. It was the touch on of monetary policy which began in the beginning of 1928 until October 1929 where commodity prices were declining drastically. Friedman and Schwartz believed that the depicted object Reseve lacked the leadership to improve problems of the banks.

The federal Reserve could have been at least more aggressive in lending adjacent payment to banks, yet Federal officals decided not to withdraw themselves with the banks which took a drastic fall in the money supply. On the other hand, critics believed that the tightening of monetary policy during 1928 and 1929 was not a cause to the great depression but perhaps a response ! to the collapse in the money supply. The Bank of England were highly booming from 1870 to the beginning of World War I in 1914. by and by the war ended, the reconstitute of the Gold Standard became a innate mess. Bank of England was forced to deplete, leaving the Federal Reserve to lead the international system. The...If you want to get a full essay, revise it on our website: OrderEssay.net

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