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Motivations for a Federal Reserve. Matt Shuman Tuesday 12-3, April 15 th. Monopoly. Initially “The Landlord’s Game” Conceived in 1906 Showcases negative aspects of concentrating property into monopolies. http://en.wikipedia.org/wiki/Monopoly_(game). www.halloffamememorabilia.com.
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Motivations for a Federal Reserve Matt Shuman Tuesday 12-3, April 15th
Monopoly • Initially “The Landlord’s Game” • Conceived in 1906 • Showcases negative aspects of concentrating property into monopolies http://en.wikipedia.org/wiki/Monopoly_(game) www.halloffamememorabilia.com
1907 Panic • Easter in Bend • Carnegie • J.P. Morgan • Rockefeller • Elisha and the bears • 1907 Crash -24.4% • DotCom Crash -27.7% • Housing Crash -50% DJI 14000 -> 7000 www.theodorerooseveltcenter.org published May 8th, 1907
Federal Reserve • Founded in 1913 • Independent of Congress • Board members span administrations • Provides stability! http://en.wikipedia.org/wiki http://en.wikipedia.org