Robert Higgs on the Great Depression



1. The popular view of economic history is that World War II finally pulled the United States out of the Great Depression. Higgs describes three "facts" that are taken for granted in this analysis, yet are incorrect. What are they, and to what extent do you agree that conventional wisdom has gotten them wrong?



4. Interviewer Roberts asks Higgs what accounts for the extreme length of the Great Depression, which Roberts refers to as the "Great Duration". What answers does Higgs offer?


6. Higgs discussed the importance of "regime uncertainty" in the U.S. economy in the '30s. What parallels may be found in the U.S. economy of today? To what extent are you convinced of the explanatory power of the concept of regime uncertainty?
