Pls answer How does the description of the government's intervention in the Great Depression contribute to the development of ideas in the text?

Answer:

The Great Depression was caused by government intervention, above all a financial system controlled by America’s central bank, the Federal Reserve — & the interventionist policies of Hoover & FDR only made things worse.

The precise causes of the Great Depression remain a subject of debate, although, as economist Richard Timberlake observed n 2005, “Virtually all present-day economists... deny that a capitalist free-market economy n any way caused” it.

At the time, however, the free market was blamed, with much of the ire directed at bankers & speculators. Financiers were seen as having wrecked the economy through reckless speculation. President Hoover came to be viewed as a laissez-faire ideologue who did nothing while the economy fell deeper & deeper into depression, & Franklin D. Roosevelt’s interventionist policies under the New Deal were credited with rescuing us from disaster.

Americans came to conclude that the basic problem was the free market & the solution was government oversight & restraint of financiers & financial markets. It’s a view that the public, unaware of the consensus of modern economists, continues to embrace.

But the conventional story ignores the elephant n the room: the Federal Reserve. To place the blame for the Great Depression on a free financial system is like placing the blame for the fall of Rome on credit default swaps: you can’t fault something that didn’t exist. & by the time of the Great Depression, America’s financial system was controlled by the Fed.

It’s hard to overstate the importance of this fact. The Federal Reserve isn’t just any old government agency controlling any old industry. It controls the supply of money, & money plays a role n every economic transaction n the economy. If the government takes over the shoe industry, we might end up with nothing but Uggs & Crocs. But when the government messes with money, it can mess up the entire economy.

The two deadly monetary foes are inflation & deflation. We tend to think of inflation as generally rising prices & deflation as generally falling prices. But not all price inflation or price deflation is malignant — & not all price stability is benign. What matters is the relationship between the supply of money & the demand for money — between people’s desire to hold cash balances & the availability of cash.

Economic problems emerge when the supply of money does not match the demand for money, i.e., when there is what economists call monetary disequilibrium. Inflation, on this approach, refers to a situation where the supply of money is greater than the public’s demand to hold money balances at the current price level. Deflation refers to a situation where the supply of money is less than necessary to meet the public’s demand to hold money balances at the current price level.

N a free banking system, as George Selgin has argued, market forces work to keep inflation & deflation in check, i.e., there is a tendency toward monetary equilibrium. Not so when the government controls the money supply. Like all attempts at central planning, centrally planning an economy’s monetary system has to fail: a central bank has neither the knowledge nor the incentive to match the supply & demand for money. & so what we find when the government meddles n money are periods where the government creates far too much money (leading to price inflation or artificial booms & busts) or far too little money (leading to deflationary contractions).

& it turns out there are strong reasons to think that the Great Depression was mainly the result of the Federal Reserve making both mistakes.

The goal here is not to give a definitive, blow-by-blow account of the Depression. It’s to see in broad strokes the way in which government regulation was the sine qua non of the Depression. The free market didn’t fail: government intervention failed. The Great Depression doesn’t prove that the financial system needs regulation to ensure its stability — instead it reveals just how unstable the financial system can become when the government intervenes.

What is the transit of a planet by a star?
Transit in astronomy, the passage of relatively,small body
I
across the disk of a larger body, usually a star or a planet, occ
What do scientists use it for?

Why were families in Panama sent back to America periodically. For the Panama Canal answer correctly and ill give u a brainliest

URGENT PLS HELP!
"British authorities treated Indians unfairly and used racist reasons to continue colonial rule in
India."

Which sentence from the article provides the BEST support to the statement above?

(A) Rebel soldiers and anti-British civilians also called for the reinstatement of the former Mughal ruler who reluctantly agreed to their demands.


(B) It took a full year for the British to re-establish control over Indian society.

(C) The British were hesitant to give recognition to people they deemed "savage" at worst, and at best "unworthy" of self-governance.

(D) India would not gain independence from British rule until 1947.

Explain how Africa's physical features affect population distribution, and culture, throughout the continent.

Brainliest! Social Studies again!

In genetic crosses, any time a heterozygous is bred with another heterozygous, the recessive trait will result in ________ of the offspring.

What role did Hürrem Sultan play in the government of the Ottoman Empire?

She wrote political letters.
She funded all public works.
She worked as a mystic for the sultan.
She was the chief adviser to the sultan.

FREDERICK DOUGLASS QUESTIONS!

1). Why is this person famous? What accomplishments are they known for? Give detailed information.

2). How did this person spend their childhood?

3). Two additional facts that you found interesting?

4). How do you relate to this person? Be specific!

Help! GIVING OUT BRAINLIEST!

The economy of China can best be described as



command.


mixed.


autocratic.


free market.

I don't know if it's command or autocratic. Please help.

PLEASE HELP WILL MARK BRAINLIEST!!

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Why do humans frack?

Fredrick Douglass Questions!

1). Why is this person famous? What accomplishments are they known for? Give detailed information examples.

2). How did this person spend their childhood?

3) Two additional facts that you found interesting?

4). How do you relate to this person?

-COMPLETE SENTENCES!

Please Help 10 Points I Really Need Help!

PLEASE HELP WILL MARK BRAINLIEST! In two to three sentences, explain the impact of scarcity on the people and the economy of Islamic republic of Mauritania. What influence does the availability of recourses have on economic trade and independence as a country?

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guess the song- No, no, no, no
No-no, no, no, no, no, no, no, no, no
No, no, no, no
I still see your shadows in my room
Can't take back the love that I gave you
It's to the point where I love and I hate you
And I cannot change you, so I must replace you, oh
Easier said than done
I thought you were the one
Listenin' to my heart instead of my head
You found another one
But I am the better one
I won't let you forget me
I still see your shadows in my room
Can't take back the love that I gave you
It's to the point where I love and I hate you
And I cannot change you, so I must replace you, oh


*hint: song by juice wrld*

How did the Transcontinental Railroad change life in the United States?
a. People stopped moving to new lands
b. People stopped using the Pony Express
c. People no longer traveled by stagecoach
d. People could travel great distances quickly

Giving brainliest!!!!!!!!

Help me!
Which of the following conclusions can be supported by the information in this chart?

a. Participation in elections increases as education level increases across all age groups.

b. Education level was a significant factor in the outcome of the 2008 election.

c. Decreasing the drop-out rate among high school students will positively affect voting rates.

d. Increasing access to higher education will decrease citizens' participation in government.

what do citizens and businesses decide in mexico?

What was the main way that Hildegard of Bingen shared her visions with others?

She had noblewomen perform them.
She wrote three books based on them.
She wrote a musical drama about them.
She composed new types of chants from them.

Which of the following is NOT one of the three branches of the U.S government?
A. Executive
B. Judicial
C. Economic
D.Legislative

Please help me lol

What is a caravan? Group of answer choices

A. West African griots (GREE • ohz), or storytellers
B. Traders grouped hundreds, sometimes thousands, of camels together to trade C. goods.
D. Ships coming together at the ports for trade.
When a group of people share the same beliefs

What was Washington’s plan towards the war between France and Great Britain
(please help)

Who best represents the “adversarial system of justice” on which the American court system is based?
A. The Defense Attorney and the National Court
B. The judges and plaintiff
C. The prosecution and defense attorneys
D. The prosecuting attorney and police

Describe the Socratic method and its origins. How does it differ from the scientific method?

What happened to both the Sioux and the Nez Perce during the 1870's?
a. The U.S government established alliances with both
b. The U.S government lost wars to both
c. The U.S government fought wars against to both groups
d. The U.S government bought land from both

(no troll)

Write a paragraph answering this question:

"How does one family rule for 825 years?"
(IN A PARRAGRAPH PLEASE.)