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Was the Great Depression the Fault of Government - Andrew Young

Was the Great Depression the Fault of Government - Andrew Young 2025

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The paper by Bruce E. Kaufman analyzes the causes of the Great Depression, challenging the prevailing view that government and union actions exacerbated the economic crisis. Utilizing Institutional and Keynesian theories, it argues that wage rigidity and anti-competitive practices were not solely responsible for the depression's severity. Instead, Kaufman posits that stable wages and New Deal labor policies were essential for economic recovery, emphasizing the importance of collective bargaining, minimum wage laws, and social insurance programs in stabilizing demand and promoting economic growth.

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