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By examining the uneven destiny of producing industries all through the 1930s, Michael Bernstein provides a powerful new interpretation of the Great Depression. The depth and persistence of the slump, he argues, simply cannot be spelled out by cyclical theories alone, but by the conjunction of a disaster in financial markets with a prolonged-run transformation in the varieties of items and companies essential by corporations and households. By concentrating on proof from unique industries, Professor Bernstein provides a much more thorough photo of what took place to the American financial system in the thirties that was so unique from preceding downturns.Utilized E book in Great Problem
