Quotes & Sayings About The Great Depression 1929

Living through the 1929 Great Depression helped shape my social conscience. During this time, I realized the earth was still the same place, manufacturing plants were still intact, and resources were still there, but people didn't have money to buy the products. I felt the rules of the game we play by were outmoded and damaging. This began a life-long quest resulting in the conclusions and designs presented in The Venus Project. — Jacque Fresco

The most striking development of the great depression of 1929 is a profound skepticism of the future of contemporary society among large sections of the American people. — C.L.R. James

The big question about the American depression is not whether war with Germany and Japan ended it. It is why the Depression lasted until that war. From 1929 to 1940, from Hoover to Roosevelt, government intervention helped to make the Depression Great. — Amity Shlaes

We certainly had an upheaval at the start of the Great Depression, and that resulted in a lot of financial reform, but it wasn't done in one stroke, and it wasn't done immediately. The Depression was in 1929 and resulted in the Securities and Exchange Act of '33, '34, '35, '37, '39, and '41. — Lloyd Blankfein

The Federal Reserve the privately owned U.S. central bank definitely caused The Great Depression by contracting the amount of currency in circulation by one third from 1929 to 1933. — Milton Friedman

Importantly, in the 1930s, in the Great Depression, the Federal Reserve, despite its mandate, was quite passive and, as a result, financial crisis became very severe, lasted essentially from 1929 to 1933. — Ben Bernanke

Ever since the Great Depression, economists have known that demand shortages tend to persist in the wake of severe financial crises like the ones that happened in 1929 and 2008. — Bob Frank

If you had asked people in 1929, 'Here is what is about to happen. How much would you pay to avoid the Great Depression from occurring?' The answer is they would have paid a lot. They would have borrowed money if it could be used to prevent the Great Depression. — Austan Goolsbee