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IPFS News Link • Economy - Recession-Depression

History vs Economics: Explaining the Causes of the Great Depression

• arclein

Magness, along with Jeremy Horpedahl and Marcus Witcher, professors of economics and history respectively at the University of Central Arkansas, discovered differences between how college-level introductory economics and history textbooks document the causes of the Great Depression. While the economics texts leaned toward monetary policy and trade, history books tended to focus on income inequality, debt, and the stock market crash. While they put equal emphasis on consumer demand issues, trade is the most accurate of them all. What's most troubling though is that other big culprits are barely discussed.