FastSaying

The Great Depression, like most other periods of severe unemployment, was produced by government mismanagement rather than by any inherent instability of the private economy.

Milton Friedman

Milton Friedman

AnyDepressionEconomyGovernmentGreatGreat DepressionInherentInstabilityLikeMismanagementMostOtherPeriodsPrivateProducedRatherSevereThanUnemployment

Related Quotes

The 24% unemployment reached at the depths of the Great Depression was no picnic.
— Barry Eichengreen
DepressionDepthsGreat
The downturn following the collapse of Japan's so-called bubble economy of the 1980s was not as severe as the Great Depression.
— Ben Bernanke
BubbleCollapseDepression
Most of the energy of political work is devoted to correcting the effects of mismanagement of government.
— Milton Friedman
CorrectingDevotedEffects
Everything I learned about the Great Depression was from a college textbook.
— Ralph Abernathy
AboutCollegeDepression
Unemployment is sky-rocketing; deflation is in our future for the first time since the Great Depression. I don't care whose fault it is, it's the truth.
— John Mellencamp
CareDepressionFault