![]() ![]() The panic often spreads to other banks, who in turn restrict. This book was highly successful, becoming the best-selling nonfiction book of 1980, and presented their agenda for reform. The key idea given is that when the government steps in to try and control the economy in various ways, both economic freedom and human freedom are impeded upon. A run is when depositors withdrawal their funds, so they won't lose their money. Free to Choose is a book with an argument, an argument against the government interfering in almost all economic activities in society. ![]() When the Knickerbocker Trust had financial difficulties, it started a run on the bank. The Federal Reserve System came into being as a result of continual and severe bank panics and failures in 1907. The real cause of the depression was incorrect policy decisions by the government. Free to Choose Hardcover Januby Milton and Rose Friedman (Author) 49 ratings Hardcover from 22.93 5 Used from 22.93 1 Collectible from 140.00 Paperback from 40.93 1 New from 40.93 Mass Market Paperback 31.84 12 Used from 29. The Great Depression produced a change in economic thinking, referred to as the Keynesian Revolution, named after the theories of the economist, John Maynard Keynes. ![]() In addition to unemployment and misery in various countries, it contributed to the rise of Adolph Hitler and the fall of Chiang Kai-shek in China. The Great Depression that occurred in 1929 deeply and adversely affected the world. ![]() Chapter 3, The Anatomy of Crisis Summary and Analysis ![]()
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