Report
The current financial crisis: what should we learn from the great depressions of the Twentieth Century?
Abstract: Studying the experience of countries that have experienced great depressions during the twentieth century teaches us that massive public interventions in the economy to maintain employment and investment during a financial crisis can, if they distort incentives enough, lead to a great depression.
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File(s): File format is application/pdf http://www.minneapolisfed.org/publications_papers/pub_display.cfm?id=4132
Bibliographic Information
Provider: Federal Reserve Bank of Minneapolis
Part of Series: Staff Report
Publication Date: 2009
Number: 421