The cause of the event is unknown. There are two major intepretations, those being Keynesian and Monetarist intepretations. Keynesians blame the stock crash and the wider Great Depression as a result of shrinking spending habits. Keynesians argued that governments during the event should begin deficit spending in terms of social welfare programmes to stimulate the economy and foster more spending and economic growth (note: some people claim that these economics only lengthened the Great Depression). Monetarists, on the other hand, argued that the stock market crash was caused by deflation, which, in turn was caused by the credit system becoming overextended (in simpler terms: the monetary system itself collapsed). Monetarists' answer to the depression would have been to shore up bank reserves so they couldn't collapse. Some people point out Black Tuesday. Others mention the Federal Reserve failure.

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