Although our economy is still struggling to recover from what is now the longest recession since the Great Depression, the latter was a much greater catastrophe. From 1929-1939, unemployment reached as high as 25%, industrial production dropped 46%, wholesale prices fell 32% and foreign trade dropped 70%.
There is a general consensus about one of the most significant contributing factors to the financial crisis of the Great Depression:"
“So you think that money is the root of all evil?” said Francisco d’Anconia. “Have you ever asked what is the root of money? Money is a tool of exchange, which can’t exist unless there are goods produced and men able to produce them.” … “Money is not the tool of the moochers, who claim your product by tears, or of the looters, who take it from you by force. Money is made possible only by the men who produce. Is this what you consider evil?” - Atlas Shrugged
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