Age of Greed Study Questions #1 (pg. 3-52)


1. What does Madrick say is the foundation of American success?

 

 

2. How did the California electorate respond to propositon 1 in 1972, to proposition 13 in 1978?

 

 

3. Historically, what had been the issue with banks offering higher interest rates?

 

 

4. What did the Glass-Steagall Act of 1933 state and why was it necessary?

 

 

5. What was Walter Wriston's idea that would challenge /circumvent Regulation Q?

 

 

6. Why did Wriston initiate First National City Corp.?

 

 

7. Why did Wriston in 1971 announce to Wall Street analysts that he wanted First National City to grow by 15% per year?

 

 

8. What evidence does Madrick provide that commercial banks facilitated the expansion of debt for forty years?

 

 

9. Mane two of the oversights Madrick claims Friedman made about inflation in his work.

 

 

10. What did Friedman and his teachers believe was the source of The Great Depression?

 

 

11. What did Keynes argue which refuted the classical notion of a self-adjusting economy?

 

 

12. What theory did Friedman provide that was intended to reinvigorate classical theory?

 

 

13. What evidence from the US economy in the 50s and 60s refuted Friedman's claims about an unfettered economy being the best economy?

 

 

14. What was Friedman's prediction that served as his "finest hour"?

 

 

15. What did Alan Blinder's study indicate about the nature of inflation occurred simultaneously?