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Essay / The Great Depression, Annotated Bibliography - 878
Cecchetti, Stephen G. “Understanding the Great Depression: Lessons for Current Politics.” Monetary Economics (1997): 1-26. This article is about the circumstances that led to the collapse of the economy in 1929. It relates to my research proposal because I am evaluating the historical events that led to the financial crisis of 1929. The article explains how deflation played an important role in the expansion of the depression and how the gold standard, a monetary system in which a country's government allows its monetary unit to be freely converted into fixed quantities of gold and vice versa, was a very bad decision because it makes the dollar lose value. This source was informal because it discusses the prehistoric events that led to the crash and I like how the article explains that the Federal Reserve played a key role in the failure of the stock market. The Federal Reserve supports any war in which the United States is involved. Dominguez, Kathryn M., Ray C. Fair, and Mathew D. Shapiro. “Predicting depression: Harvard versus Yale.” » The American Economic Review (1988): 18. This article is about economists at Harvard University and Yale University discussing whether the Great Depression was predictable. This source relates to my topic because the Harvard and Yale Economic Forecasting Services were the two economic and forecasting services available to businesses and the public in the 1920s. I like how this source involves the top schools from the Ivy League to analyze what caused the financial crisis of 1929, why the financial crisis was caused, and how the financial crisis was led. Crises and differences. New York Times (1929). This ...... middle of paper ...... discusses the fact that the price of a seat on the New York Stock Exchange was abnormally low. The sources explain how stock prices rose dramatically and that since stock prices were rising, seat prices should have increased during the boom of 1929. Instead, there was a negative correlation between prices stock and seat prices by about 20 percent, months before the accident. I like how this source implements stock statistics from the New York Stock Exchange because it demonstrates one of the causes of the 1929 crash. Brokers anticipated the October 1929 crash, but the public didn't hear about it because they thought they could liquidate the stocks to keep the market from crashing. /dp/0060160810http://www.amazon.com/Why-Stock-Markets-Crash-Financial/dp/0691118507