Professor Steven Horwitz contrasts the US economy during the Gilded Age (1870s to the early twentieth century—a period of industrialization and the growth of wealth—with the Great Depression (1929-39). He traces the role played by innovation and industrialization as well as the role of the federal government and the Federal Reserve System throughout these two contrasting periods.

CONTENT OF THIS VIDEO:
00:00 Initial credits
00:07 The Gilded Age
09:00 The Progressive Era
14:53 The Federal Reserve and the Great Depression
20:16 The high school "story" about the Great Depression
21:18 What caused the Great Depression and why did it last so long?
23:00 1920-1929
25:00 1929-1933
28:37 The response of President Herbert Hoover to the Great Depression
34:11 Herbert Hoover and Franklin D. Roosevelt: the same?
41:10 The role of the Second World War
43:54 Conclusion
44:35 Final credits

ABOUT STEVEN HORWITZ:
Steven Horwitz, PhD is is Charles A. Dana Professor of Economics at St. Lawrence University. A Senior Scholar at the Mercatus Center and Senior Fellow of the Fraser Institute, Dr. Horwitz completed his Ph.D. in economics at George Mason University