Economics and the Public Welfare: A Financial and Economic History of the United States, 1914-1946 (LFB)

Ben Bernanke and the whole ruling class set out in 2008 not to repeat the errors of the Great Depression. They have ended up doing so anyway. One reason: even now, there is no clear understanding of precisely what the “errors of the Great Depression” really were. Was their too much reliance on markets or not enough? Too much money or not enough? Too much permission for banks to fail or not enough? Too much government spending or not enough?

To get the right answers to these questions require...