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The Collapse of Real Savings Caused the Great Depression
Contrary to Milton Friedman’s thesis that the decline in the money supply caused the Great Depression, the real reason was the collapse of real savings, which was due to loose monetary policies by the Federal Reserve.
Original Article: The Collapse of Real Savings Caused the Great Depression
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By Mises Institute
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Contrary to Milton Friedman’s thesis that the decline in the money supply caused the Great Depression, the real reason was the collapse of real savings, which was due to loose monetary policies by the Federal Reserve.
Original Article: The Collapse of Real Savings Caused the Great Depression
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