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The Great Depression · ⁨大萧条⁩

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English

Instability, not a single crash

  • Episodes of credit and market instability in the early 20th century, in particular the Great Depression, led to calls for a stronger financial regulatory system.
  • Episodes — plural — with the Depression as the sharpest, so the CED describes a recurring problem rather than one event.
  • And the effect named is a call for regulation, which answers 6.12's laissez-faire position directly.
中文

不稳定,而不是一次单独的崩盘

  • 20 世纪早期信贷与市场不稳定的一系列事件,尤其是大萧条,导致了对更强金融监管体系的呼声。
  • 一系列事件——是复数——其中以大萧条最为尖锐,因此 CED 描述的是一个反复出现的问题,而不是一个事件。
  • 而被点名的效果是一项对监管的呼吁,这直接回答了 6.12 的自由放任立场。

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