Great Depression in the United States government dealt with economic downturns, such as the use of stimulus packages, Keynesian economics, and Social Security. It also shaped modern American literature, resulting in famous novels such as John Steinbeck's "The Grapes of Wrath" and "Of Mice and Men". Examining the causes of the Great Depression raises multiple issues: what factors set off the first downturn in 1929; what structural weaknesses and specific events turned it into a major depression; how the downturn spread from country to country; and why the economic recovery was so prolonged. Many banks began to fail in October 1930 when farmers defaulted on loans.
The Forgotten Man: A New History of the Great Depression The Forgotten Man: A New History of the Great Depression The Forgotten Man: A New History of the Great Depression is a book by Amity Shlaes and published by HarperCollins in 2007. The book is a re-analysis of the events of the Great Depression, generally from a free market perspective. The book criticizes Herbert Hoover and the Smoot-Hawley Tariff for their role in exacerbating the Depression through government intervention. It criticizes Franklin D. Roosevelt for erratic policies that froze investment and for failing to take the steps needed to stop the Depression. Shlaes criticizes the New Deal for extending the