1.1. We claim that part of the reason the Great Depression was so destructive is because economists...

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1.1. We claim that part of the reason the Great Depression was so destructive is because economists didn't understand how to use government policy very well in the 1930s. In your opinion, do you think that economists during the Great Depression would have agreed? In other words, if you had asked them why the Depression was so bad, would they have said, "Because the government ignored our wise advice," or would they have said,

"Because we don't have any good ideas about how to fix this"? What does your answer tell you about the confidence of economists and other experts?

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Modern Principles Macroeconomics

ISBN: 124428

2nd Edition

Authors: Tyler Cowen ,Alex Tabarrok

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