According to folsom what caused the Great Depression?

Answer 1

According to Folsom, the Great Depression was primarily caused by government intervention in the economy, particularly through the Federal Reserve's monetary policies and the implementation of the New Deal. He argues that excessive regulation and intervention stifled economic growth and led to a collapse in consumer confidence. Additionally, Folsom points to the role of the Stock Market crash in 1929 as a catalyst that, while significant, was exacerbated by these government actions rather than being the sole cause of the economic downturn.