Milton Friedman Video on The Great Depression, Bank Runs and the Federal Reserve
In the video above, Milton Friedman discusses the Great Depression, banker's fear of a bank run and the appropriate Federal Reserve response to provide assistance.
CARPE DIEM
Professor Mark J. Perry's Blog for Economics and Finance
Wednesday, May 16, 2012
About Me
- Name: Mark J. Perry
- Location: Washington, D.C., United States
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
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3 Comments:
What a perfect explanation of the grand illusion of centralised fractional reserve banking. This is just one example of what typically passes for economic genius.
A clear, consistent mind: Milton Friedman.
Would the GOP hypocrites, and the feebleminded D-Party, pay some attention.
The USDA? Why? Commerce? HUD? Labor?
Pensions after 20 years service for uniformed federal employees? Useless military bases?
The pink-o, socialist nirvana known as ethanol? Our federally subsidized rural economy?
I have known of the failure of Bank of the U.S., but did not realize it paid depositers back $.92 1/2 on the dollar -- without any help from the Fed.
Today, in Greece and Spain, depositers are withdrawing huge sums from banks.
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