Anatomy of crisis

Description: Causes of the Great Depression have been widely debated. One of the most widely accepted explanations is that it resulted from a failure of free market capitalism. Milton Friedman rejects this conclusion. He argues that a failure of government authorities to manage monetary policy, that is, controlling the amount of money in circulation, properly is a much more supportable explanation for the Depression. To acquire a better understanding of the pivotal role monetary forces play and to develop a better grasp of the causes of the Great Deparession, it is helpful to look closely at the role of money and the workings of banking systems. Presented by Milton Friedman. Suitable for middle, upper secondary and tertiary levels.