Mason Gaffney makes 2 points:

The first:

" ... we are sliding into the worst depression since 1929-41, and you 
economists spend your time and talent on ancient calendar issues? 
History of Thought, fine, but how about the history of economic 
thought on cycles of boom and bust?"

It would be very valuable to have a web site of links to the 
literature on asset price boom and busts, policy proposals, insider 
blogs etc : this would generate enormous traffic.  Central bank 
economists and watchers and government officials are currently wide 
open to alternative perspectives and policy proposals.  The HET 
community could contribute significantly to the process of 
influencing the formulation of non-dog's-dinner policy responses.

The second:

"You might add that Ely and Fisher were discredited by leading us 
into, but not out of the Great Depression of the 1930s; and Friedman 
and Stigler, it is now clear, did the same for the Great Depression of today".

To get the conversation about alternative policy responses rolling: 
Friedman repeatedly supported the 1933 Chicago proposal to separate 
banks from investment companies (banks take deposits and invest in 
Treasury securities; investment companies raise capital for 
businesses).  This would essentially eliminate the problem of bank failure.

Friedman (like, I suspect, most economists), also favoured an 
expenditure tax which provides the mechanism by which the tax system 
can encourage capital creation: the challenge remains to find 
vehicles by which savings can be converted into human, residential 
and business capital without generating bubbles.  These topics would 
benefit from a systematic presentation and analysis - via a  web site 
of links to the literature on asset price boom and busts.

Robert Leeson