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After being a closed book for decades, economists have revisited the Great Depression using recent developments in economic theory and quantitative methods. This new research is surprising, as it finds that several aspects of the Depression contrast sharply with long-standing explanations.
The conventional view is that the Depression began as a garden variety recession, which then became the Depression through banking crises and the failure of the Federal Reserve to expand the money supply. This view also argues that the recovery from the Depression was on track until 1937, when the Fed raised bank reserve requirements and President Roosevelt reduced fiscal stimulus.
Explanation:
im not sure but i honestly hope this helps!
