The first thing you need is obviously a replacement water heater element, and also a socket to fit. The most common size is 1 1/2â³, and a couple of screwdrivers and nut drivers depending on exactly what you need on your water heater to expose the element.
Essentially, the Great Depression, in their view, was caused by the fall of the money supply. The result was what Friedman calls the Great Contraction â a period of falling income, prices, and employment caused by the choking effects of a restricted money supply.
President Obama has often remarked that the Great Recession (2008â10) is the greatest economic crisis since the Great Depression. Itâs interesting to study the many parallels between the Great Recession and the Great Depression. Causation. The main causes of both crises lie in actions of the federal government.