Part 1/9:
Understanding the Great Depression: A Misconception Unveiled
The narrative that the Great Depression was a result of private business failure is entrenched in public consciousness. This prevalent view is echoed not only by advocates for increased government intervention but is also commonly accepted among financial professionals. The prevailing argument frames the economic downturn as a consequence of reckless speculation and the undue concentration of wealth during the 1920s. Yet, this perspective may be fundamentally misguided.