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.
There are a number of theories on what causes recessions. Some observers believe each recession has a unique cause, whereas others believe recessions generally have a single cause, such as bad investments (malinvestment) by firms. It is occasionally heard that recessions and depressions, such as the Great Depression, are caused by stock market crashes.