Facts About The Great Depression That Aren’t As Dark And Gloomy As You’re Expecting

Chaos From Wall (Street) To Wall (Street)

Photo Credit: FPG / Hulton Archive / Getty Images

It’s widely believed, specifically by Milton Friedman who is a Nobel Prize-winning economist, that the Great Depression was not the result of the stock market crash. While Wall Street takes a lot of the blame, it was the reaction of the banks that truly caused the Depression.

Friedman famously stated that it was due to the epic collapse of the banking system after public panic within the first few years.The term “Bank Runs” referred to people running to their bank to take out as much money as they can after hearing the news of the stock market crash.

Just ahead, find out how many kids had to leave school because of the crash, it’s shocking.