Part 1 of Essay
To my amazement serves as a natural debating point that "justifies" or "refutes" various economic policies. and the New Deal are complex topics that are open to many interpretations. The Great Depression was the worst economic slump ever in U.S. history, and one which spread to virtually all of the industrialized world. ....

Part 2 of Essay
.... and depressions. In a normal economy, Keynes said, there is a circular flow of money. My spending becomes part of your earnings, and your spending becomes part of my earnings. For various reasons, however, this circular flow can falter. People start hoarding money when times become tough; but times become tougher when everyone starts hoarding money. This breakdown results in a recession. To get the circular flow of money started again, Keynes suggested that the central bank, the Federal Reserve System ....