How Did Ben Bernanke Contribute To The Great Depression
Biographical/Educational Information
Ben Shalom Bernanke was born on December 13, 1953 in Augusta, Georgia. He spent the majority of his childhood and teenage years in a Dillon, South Carolina. As a child Ben attended a East Elementary and J.V. Martin Junior High. He later educated at Dillon High School where he graduated valedictorian. An interesting fact most don't know, Ben Bernanke taught himself calculus in high school since the school did not offer the course. Ben was accepted into Harvard University and graduated with an A.B. degree, and later with an A.M. in economics. He also received a Ph.D degree in economics from the Massachusetts Institute of Technology in 1979. After graduating he became an economics professor at Stanford University and later Princeton as well. Ben joined the Federal Reserve System in 2002 and replaced Alan Greenspan in 2006 as chairman. Ben Bernanke was influenced by economist Milton Friedman. As chairman of the Federal Reserve, Bernanke helped guide monetary policy during a time of economic trouble in America. He dealt with aiding failing …show more content…
Stock market crashes, bread lines, bank runs, and currency speculation, all occurring with war looming in the background. This period has provided economists with an excellent opportunity for studying the links between economic policies and institutions and economic performance. Ben Bernanke put together his essays on why the Great Depression was so devastating throughout the book. These essays show that while the Great Depression was an incomparable disaster, some economies pulled up faster than others, and some made an opportunity out of it. By comparing the economic strategies of the world's nations as they struggled to survive economically, lessons of macroeconomics stand out in a background of severe human suffering. The essays in this book present a consistent view of the economic causes and worldwide phenomena of the
Ben Shalom Bernanke was born on December 13, 1953 in Augusta, Georgia. He spent the majority of his childhood and teenage years in a Dillon, South Carolina. As a child Ben attended a East Elementary and J.V. Martin Junior High. He later educated at Dillon High School where he graduated valedictorian. An interesting fact most don't know, Ben Bernanke taught himself calculus in high school since the school did not offer the course. Ben was accepted into Harvard University and graduated with an A.B. degree, and later with an A.M. in economics. He also received a Ph.D degree in economics from the Massachusetts Institute of Technology in 1979. After graduating he became an economics professor at Stanford University and later Princeton as well. Ben joined the Federal Reserve System in 2002 and replaced Alan Greenspan in 2006 as chairman. Ben Bernanke was influenced by economist Milton Friedman. As chairman of the Federal Reserve, Bernanke helped guide monetary policy during a time of economic trouble in America. He dealt with aiding failing …show more content…
Stock market crashes, bread lines, bank runs, and currency speculation, all occurring with war looming in the background. This period has provided economists with an excellent opportunity for studying the links between economic policies and institutions and economic performance. Ben Bernanke put together his essays on why the Great Depression was so devastating throughout the book. These essays show that while the Great Depression was an incomparable disaster, some economies pulled up faster than others, and some made an opportunity out of it. By comparing the economic strategies of the world's nations as they struggled to survive economically, lessons of macroeconomics stand out in a background of severe human suffering. The essays in this book present a consistent view of the economic causes and worldwide phenomena of the