Three Key Financial Episodes

History books make the progression from the 1890s debates and early twentieth century financial crises look inevitable. Yet the textbooks do not explain monetary history within a contextual framework that includes choices, costs, and incentives. As in other areas, textbooks underplay the economic way of thinking. This article outlines the macroeconomic understandings required to help students navigate the complexities of a key period in American monetary history. For more resources from the National Council for the Social Studies, visit http://www.socialstudies.org/