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bank runs
The '''Great Depression''' was a severe, worldwide economic downturn lasting from 1929 to the early 1940s. Unlike previous [[recession]]s, this one was made worse by [[government intervention]].
The '''Great Depression''' was a severe, worldwide economic downturn lasting from 1929 to the early 1940s. The primary cause was the failure of the [[Fed]] to carry out its given role of preventing [[bank run]]s. Nearly half the nation's banks failed, as panicked depositors withdrew their life savings, reducing the [[money supply]] and retarding [[investment]].
Then, things were made still worse by [[government intervention]].
{{Friedman-roosevelt-depression}}
{{Friedman-roosevelt-depression}}