1930s Quote by Milton Friedman

Importantly, in the 1930s, in the Great Depression, the Federal Reserve, despite its mandate, was quite passive and, as a result, financial crisis became…

— Ben Bernanke

The Federal Reserve the privately owned U.S. central bank definitely caused The Great Depression by contracting the amount of currency in circulation by one…

— Milton Friedman

We certainly had an upheaval at the start of the Great Depression, and that resulted in a lot of financial reform, but it wasn't…

— Lloyd Blankfein

The Fed was largely responsible for converting what might have been a garden-variety recession, although perhaps a fairly severe one, into a major catastrophe.…

— Milton Friedman

The Great Depression in the United States was caused - I won't say caused, was enormously intensified and made far worse than it would…

— Milton Friedman

The Great Depression was not a sign of the failure of monetary policy or a result of the failure of the market system as…

— Milton Friedman

The stock market crashed in October 1929. But that was not the cause of what caused the Great Depression. It was, in my opinion,…

— Milton Friedman

I think there is universal agreement within the economics profession that the decline - the sharp decline in the quantity of money played a…

— Milton Friedman

In the large sense the primary cause of the Great Depression was the war of 1914-1918. Without the war there would have been no…

— Herbert Hoover

“The accepted version of history is that the Federal Reserve was created to stabilize our economy. One of the most widely-used textbooks on this…

— G. Edward Griffin

The Depression was an incredibly dramatic episode - an era of stock-market crashes, breadlines, bank runs and wild currency speculation, with the storm clouds…

— Ben Bernanke

Understanding the true causes of the Depression, as well as the real economic record of the United States in the 1930s, is an essential…

— Thomas Woods