America's Great Depression

Viac o knihe

The book delves into business cycle theory, illustrating how expansive monetary policies create imbalances between investment and consumption. It analyzes the Federal Reserve's inflationary policies during the 1920s, highlighting that their effects weren't immediately evident in consumer prices. The author argues that the stock market correction was just one indicator of an underlying investment boom that ultimately resulted in a bust, providing a critical examination of economic cycles and monetary policy implications.