A Quote by Robert Lucas, Jr.

Monetary contractions are attractive as the key shocks in the 1929-1933 years, and in other severe depressions, because there do not seem to be any other candidates.

Robert Lucas, Jr.

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Any Attractive Because Candidates Contractions Key Monetary Other Seem Severe Years

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Robert Lucas, Jr.
American - Economist
Born: September 15, 1937

The stock market crashed in October 1929. But that was not the cause of what caused the Great Depression. It was, in my opinion, a very minor element of it. What happened was that from 1929 to 1933 you had a major contraction which, in my opinion, was caused primarily by the failure of the Federal Reserve System, to follow the course of action for which it was set up. It was set up to prevent exactly what happened from 1929 to 1933. But instead of preventing it, they facilitated it.

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

I am myself persuaded, on the basis of extensive study of the historical evidence, that... the severity of each of the contractions - 1920-21, 1929-33, and 1937-38 - is directly attributable to acts of commission and omission by the Reserve authorities and would not have occurred under earlier monetary and banking arrangements.

Milton Friedman

The Fed was largely responsible for converting what might have been a garden-variety recession, although perhaps a fairly severe one, into a major catastrophe. Instead of using its powers to offset the depression, it presided over a decline in the quantity of money by one-third from 1929 to 1933 ... Far from the depression being a failure of the free-enterprise system, it was a tragic failure of government.

Milton Friedman

I'm different than Republican candidates, than other Republican candidates. I've got states that we can win that other Republican candidates wouldn't even stop over for dinner.

Donald Trump

Nor do I think that any other nation than this of Wales, nor any other language, whatever may hereafter come to pass, shall on the day of severe examination before the Supreme Judge, answer for this corner of the earth.

Giraldus Cambrensis

I am running against no one. I'd like to be President. I think my experience and my record are greater than any other candidate or any other of the unannounced candidates. It's a real challenge, and that's one of the paramount things. When people keep telling you that you can't do a thing, you kind of like to try it.

Margaret Chase Smith

While the establishment Republican candidates are busy doing this, attacking each other, and doing everything they can to bring each other down, they seem to be missing the bull`s-eye. They`re missing the targets.

Melissa Harris-Perry

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

We know - intellectually - that confronting an issue is the only way to resolve it. But any resolution will disrupt the status quo. Given the choice between conflict and change on the one hand, and inertia on the other, the ostrich position can seem very attractive.

Margaret Heffernan

I met my second husband on a bus. We looked at each other and that was it. We were both married to other people at the time and behaved badly, but we didn't seem to have any choice. We were very happy for nearly 50 years and would still be together if it wasn't for the bloody railways.

Nina Bawden

Whoever is born in New York is ill-equipped to deal with any other city: all other cities seem, at best, a mistake, and, at worst, a fraud. No other city is so spitefully incoherent.

James Baldwin

Even though I have spent literally years of my life trying to learn another language, any other language - and even though I have in the past claimed in several key professional contexts that I speak other languages - I am in fact still trapped inside the bubble of English.

Lev Grossman

One of the leading theories of why electroconvulsive therapy is effective for most severe depressions is that it causes a loss of short-term memory - patients feel better because they can't remember why they were sad.

Daniel Goleman

There's an idea that action movies are more attractive to one gender than the other or different kinds of people or whatever. The truth is action is not any different than any other part of a story.

Patty Jenkins

Jesus doesn’t dominate the other, avoid the other, colonize the other, intimidate the other, demonize the other, or marginalize the other. He incarnates into the other, joins the other in solidarity, protects the other, listens to the other, serves the other, even lays down his life for the other.

Brian D. McLaren

A Quote by Robert Lucas, Jr.

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