Mathy, G. P. (2020). How much did uncertainty shock matter in the Great Depression? Cliometrica, 14(2), 283-323.
This is a secondary source, written in 2020, and its main idea is that shocks of uncertainty had the main effect on the changes during the Great Depression, which contributed to the fall in production. The writer was not present at the time presented, and they seem neutral since they perceive this topic from a purely economic, scholarly perspective. The authors emphasize the fact that during the Great Depression, important factors of living like investments, GDP, industrial production, employment, number of working hours, wages, and price level increased uncertainty. This source is credible because it is peer-reviewed and published by a trustworthy scholarly journal.
Benmelech, E., Frydman, C., & Papanikolaou, D. (2019). Financial frictions and employment during the great depression. Journal of Financial Economics, 133(3), 541-563.
This is a secondary source published in 2019 and written to discuss the problems with employment. It presents the idea that credit offers played a crucial role during the Great Depression. The writers were not present at the time described, and they do not seem neutral, as they condemn the Great Depression. Some of the key facts presented include the assertion that the decline in employment during the Great Depression was associated with the bankruptcy of local banks, which prevented firms from replacing public debt with private debt. This source is credible as it is peer-reviewed and was published in a trustworthy scholarly journal.
Harriman, H. I. (1932). The stabilization of business and employment. The American Economic Review, 22(1), 63-74.
This is a primary source – a report on a session about the stabilization of business, written in 1932. The session was held to discuss the problems of unemployment. The main takeaway is that the US society of that time perceived employment and just conditions of employment as a solution for the economic recession. The writer is a participant in the event written about, and they seem very engaged in finding a way to stabilize the US economy. One important fact presented is the agitation for fair wages and reasonable hours of work. The source is credible as it was published in a trustworthy academic journal.
Currie, L. (1934). The failure of monetary policy to prevent the Depression of 1929-32. Journal of Political Economy, 42(2), 145-177.
This is a primary source – a journal article written in 1934 to discuss the need to change the mechanism of the monetary operation that was established before the Great Depression began. The main idea of the article is that the reserve administration made great mistakes that led to the collapse of the economic system. The writer was present at the time of the events in focus, and they seemed concerned about the unsuccessful steps of the reserve administration. Some of the key facts presented are that a correct understanding of the monetary mechanism entails the focus on two monetary cycles of 1928-1929 and 1930-1931. The source is credible as it was published in a trustworthy academic journal.