(HT - LK)
Great to see this! I like to think this guy might have been influenced by my paper. He talks about tbe technical reason why the Fed used the discount rate rather than open market operations in the 1920-1921 depression, which is a little piece of arcana I haven't seen in any in the discussion of 1920-1921 except my RAE paper.
Strokin' LOL
ReplyDeleteAnother good point he makes is about the positive supply shock in labour: the civilian labour force grew by 4.3% in 1920, by immigration and demobilized soldiers, contributing to unemployment.
ReplyDelete"I like to think this guy might have been influenced by my paper. "
ReplyDeleteHe links your paper as a source in the youtube description if you didn't notice.