What do you think caused the Great Depression ie kenyes theory,monetarist theory ect?
I don’t think Keynes or Friedman had any clue about the causes of the Depression. Keynes thought that building useless pyramids could help the economy and that war is good for business (I think anybody who looks at our current economic situation can see that these claims are patently absurd). Monetarist/Friedmanite theory says that the Depression was caused because the Federal Reserve didn’t inflate enough. Considering that the Fed is constantly dropping interest rates (inflating) at the moment to try to prevent a depression, Monetarist theory will be discredited if the economy crashes (as appears likely). There is also the Marxist theory that Capitalism was responsible, but considering how much of a disaster Marxism has been everywhere it has ever been tried (Communist countries have to buy food from Capitalist countries to avoid mass starvation), we should dismiss anything they say without even considering it. Besides those theories, the only other one I’m familiar with is the theory
