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Module Supplement D.
Lessons from the Great Depression

The Great Depression (1929-33) is perhaps the most catastrophic economic event in American history. It is also one of the most misunderstood. Misconceptions abound with regard to what actually happened. The Great Depression is a tragic story about economic illiteracy and the adverse impact of unsound policies. People who do not learn from the lessons of history are prone to repeat them. If we want to avoid similar experiences in the future, understanding of this experience and the forces underlying it is vitally important.
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