The Great Depression

This history of the Great Depression was prepared for The Cambridge Economic History of the United States. It describes real and imagined causes of the Depression, bank failures and deflation, the Fed and the gold standard, the start of recovery, the first New Deal, and the second New Deal. I argue本关于大萧条（Great Depression）的历史研究为《剑桥美国经济史》（The Cambridge Economic History of the United States）所撰写。它阐述了大萧条的真实与假想成因、银行倒闭与通货紧缩、联邦储备系统（Fed）与金本位制、复苏的开端、第一次新政（First New Deal）及第二次新政（Second New Deal）。笔者认为