Chairman Bernanke agrees with Friedman that the Federal Reserve is largely to blame for the Great Depression, but he draws a different lesson from the central banks disastrous mistake. That difference helps explain Bernankes eagerness for the Fed to play a larger role in centrally planning the U.S. economy.
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|Other Independent Review articles by Jeffrey Rogers Hummel|
|Spring 2014||The Inevitability of a U.S. Government Default|
|Spring 2001||The Will to Be Free: The Role of Ideology in National Defense|
|Fall 2000||All on Fire: William Lloyd Garrison and the Abolition of Slavery|
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