Love to Learn History

       The Great Depression, which began in 1929 and lasted until about 1939, significantly affected the United States and impacted the economy globally. While there still is no agreement on the exact causes of this phenomenon, government officials, economists, and historians have tried to analyze, define, and explain it in the almost one hundred years since. These experts named several related economic theories. For the purposes of this blog, the focus is on one of those economic theories – the monetarist theory – as a cause of the Great Depression and its ultimate demise.     So, what is the monetarist theory generally? Governments use monetary policies to affect economic performance. These policies may include adjusting interest rates, increasing the money supply, or changing bank reserve requirements to control the amount of money in the economy. Those who use the monetarist theory believe that monetary policies are the best way to manage the rate of the country’s money supply. T

             This blog focuses on the economic, financial, and business experience of Milton S. Hershey from 1900-1929. Hershey was an entrepreneur who changed the candy industry through the business that continues to bear his name – the Hershey Company. To take care of his workforce, he created a town that also still bears his name - Hershey, Pennsylvania. His vision for his legacy led to the creation of the Milton Hershey School. Originally a home and school for orphan boys, it continues to serve children in need.      Corporate financial records were not found for the entire period from 1900-1929, so detailed quantitative analysis was impossible. This drove the primary research method to be a historical analysis of Hershey’s actions and impacts from 1900-1929, with available statistical data added.      Primary and secondary sources focused on Milton Hershey and the Hershey Company. Most of the primary sources are from the Hershey Community Archives ( https://hersheyarchives.org/ ).