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.
CAUSES OF THE GREAT DEPRESSION: A review of Keynesian theory. To understand the Great Depression, it is important to know the theories of John Maynard Keynes (rhymes with rains). Keynes is known as the father of modern economics because he was the first to accurately describe some of the causes and cures for recessions and depressions.