Author: Independent Institute
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Professor Steven Horwitz contrasts the US economy during the Gilded Age (1870s to the early twentieth century—a period of industrialization and the growth of wealth—with the Great Depression (1929-39). He traces the role played by innovation and industrialization as well as the role of the federal government and the Federal Reserve System throughout these two contrasting periods. CONTENT OF THIS VIDEO: 00:00 Initial credits 00:07 The Gilded Age 09:00 The Progressive Era 14:53 The Federal Reserve and the Great Depression 20:16 The high school "story" about the Great Depression 21:18 What caused the Great Depression and why did it last so long? 23:00 1920-1929 25:00 1929-1933 28:37 The response of President Herbert Hoover to the Great Depression 34:11 Herbert Hoover and Franklin D. Roosevelt: the same? 41:10 The role of the Second World War 43:54 Conclusion 44:35 Final credits RECOMMENDED BOOKS "Crisis and Leviathan" by Robert Higgs http://www.independent.org/store/book.asp?id=101 ABOUT STEVEN HORWITZ: Steven Horwitz, PhD is is Charles A. Dana Professor of Economics at St. Lawrence University. A Senior Scholar at the Mercatus Center and Senior Fellow of the Fraser Institute, Dr. Horwitz completed his Ph.D. in economics at George Mason University More information about Steven Horwitz http://www.independent.org/aboutus/person_detail.asp?id=604 The Challenge of Liberty Seminars provide college-aged students with the ethical and economic principles of free societies that are essential to understanding, appreciating, and preparing for real world issues that lie ahead. More information about Student Seminars: http://www.independent.org/seminars/ INDEPENDENT INSTITUTE LINKS APP: https://itunes.apple.com/us/app/mygovcost-government-cost/id834798309?mt=8 FACEBOOK! http://www.facebook.com/independentinstitute TWITTER! http://twitter.com/independentinst WEBSITE: http://www.independent.org