The Great Depression According to Milton Friedman| The Foundation for Economic Education: The Freeman, Ideas on Liberty
Ben Bernake:
“I would like to say to Milton and Anna: Regarding the Great Depression, you’re right. We did it. We’re very sorry.”


"The System has not made the same mistake that it made in 1929–1933—of permitting or fostering a monetary collapse—but it has made the opposite mistake, of fostering an unduly rapid growth in the quantity of money and so promoting inflation. In addition, it has continued, by swinging from one extreme to another, to produce not only booms but also recessions, some mild, some sharp. "