The first thing you need is obviously a replacement water heater element, and also a socket to fit. The most common size is 1 1/2â³, and a couple of screwdrivers and nut drivers depending on exactly what you need on your water heater to expose the element.
Essentially, the Great Depression, in their view, was caused by the fall of the money supply. The result was what Friedman calls the Great Contraction â a period of falling income, prices, and employment caused by the choking effects of a restricted money supply.
The immediate cause of the Great Depression of the 1930's was the catastrophic collapse of investment purchases. There were prior causes, such as the real interest rate stemming from restrictive monetary policy, but it is in investment purchases that these factors have their effect.