Which group of economists argues that the stock market crash of 1929 significantly reduced wealth,causing consumption to fall and resulting in a significant downturn in residential construction and investments?

Question

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Keynesian economists argue that the stock market crash of 1929 caused a reduction in wealth, leading to a decrease in consumption and a downturn in residential construction and investments. This is consistent with Keynesian theory, which emphasizes the importance of aggregate demand in driving economic activity. Classical economists, on the other hand, would be more likely to argue that markets are self-correcting and that any downturn would be short-lived. Monetarists emphasize the role of monetary policy in stabilizing the economy, while Austrians would argue that the government should not intervene in the economy at all.

Which Group of Economists Argues That the Stock Market Crash