Milton Friedman and the Great Depression Myth

Happy Tax Day, everyone! Having just signed over a decent chunk of change to the government today, my mind is quite fixed on the economy and money right now. Unfortunately, I’m about as far from an economic expert as one can get. I’ve read enough to be able to read about and not scratch my head in complete bewilderment, but far be it from me to be able to teach anyone.

That’s why I thought it quite timely that I would come across this post from Orrin Woodward on the very matter that’s been concerning me. Below is the video he shared on his blog, one that I feel is important for everyone to watch. Orrin even explains that the issues Milton Friedman, “one of the great monetarist economist of all-time,” talks about in this video acted as a major catalyst in his co-authoring the upcoming book Leadershift.

According to Friedman, in Orrin’s words: “It isn’t the free enterprise business system as commonly believed, but rather government manipulation of the money supply. In fact, the total money supply from 1929 to 1933 declined by 1/3, forcing a contraction and subsequent depression of the American economy. The Federal Reserve failed in the very task it was assigned to prevent.”

Enjoy and God bless,
Catherine Crichlow

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2 comments

  1. Rob Crichlow · · Reply

    Fantastic post and well timed with Freedom Shift releasing this week. Inflation is a very devious way to tax us and it is getting worse with not a mention of it in the press. Thanks for this post.

    1. This video sent me down a near-hour-long spiral of Friedman vid after Friedman vid. I highly recommend you check out some of his other stuff, and read the comments, too. The discussions there can be fascinating.

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