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For most of the nation, the "Black Tuesday" (also sometimes referred to as "Black Thursday" or "Black Monday") stock market crash of October 29, 1929, marked the beginning of a decade of high unemployment, poverty, and deflation. Although some observers think the causes of the Great Depression are still uncertain, most economists have followed Milton Friedman's analysis and blame the national collapse on an unwillingness by the Federal Reserve System to supply reserves to the system when the banking system faced a run on its deposits...
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For most of the nation, the "Black Tuesday" (also sometimes referred to as "Black Thursday" or "Black Monday") stock market crash of October 29, 1929, marked the beginning of a decade of high unemployment, poverty, and deflation. Although some observers think the causes of the Great Depression are still uncertain, most economists have followed Milton Friedman's analysis and blame the national collapse on an unwillingness by the Federal Reserve System to supply reserves to the system when the banking system faced a run on its deposits...
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