America's Great Depression

America s Great Depression Applied Austrian economics doesn t get better than this Murray N Rothbard s America s Great Depression is a staple of modern economic literature and crucial for understanding a pivotal event in Americ

  • Title: America's Great Depression
  • Author: Murray N. Rothbard
  • ISBN: 0945466056
  • Page: 375
  • Format:
  • Applied Austrian economics doesn t get better than this Murray N Rothbard s America s Great Depression is a staple of modern economic literature and crucial for understanding a pivotal event in American and world history The Mises Institute edition features, along with a new introduction by historian Paul Johnson, top quality paper and bindings, in line with the standard set by The Scholars Edition of Human Action Since it first appeared in 1963, it has been the definitive treatment of the causes of the depression The book remains canonical today because the debate is still very alive Rothbard opens with a theoretical treatment of business cycle theory, showing how an expansive monetary policy generates imbalances between investment and consumption He proceeds to examine the Fed s policies of the 1920s, demonstrating that it was quite inflationary even if the effects did not show up in the price of goods and services He showed that the stock market correction was merely one symptom of the investment boom that led inevitably to a bust The Great Depression was not a crisis for capitalism but merely an example of the downturn part of the business cycle, which in turn was generated by government intervention in the economy Had the book appeared in the 1940s, it might have spared the world much grief Even so, its appearance in 1963 meant that free market advocates had their first full scale treatment of this crucial subject The damage to the intellectual world inflicted by Keynesian and socialist style treatments would be limited from that day forward.

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      375 Murray N. Rothbard
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      Posted by:Murray N. Rothbard
      Published :2019-04-22T01:47:56+00:00

    One thought on “America's Great Depression

    1. None

      Jeder libertär Denkende und an wirtschaftlichen Zusammenhängen Interessierte sollte dieses Buch gelesen haben, das mit allen keynesianischen Mythen der Great Depression aufräumt.

    2. None

      Dieses Buch beschreibt die Weltwirtschaftskrise aus amerikanischer Sicht (von ca. 1920 bis 1933, als Roosevelt Präsident wurde).Zunächst wird die Konjunkturtheorie der "österreichischen Schule" der Volkswirtschaftslehre vorgestellt (siehe z. B. Mises: "Human Action"). Durch die Zeitpräferenz der Marktteilnehmer (was wird jetzt gekauft, was später?) wird deren Einkommen in Konsum und Sparen aufgeteilt; das gesparte Geld steht auf dem Kapitalmarkt für Investitionen zur Verfügung. Durch Ange [...]

    3. None

      Putting aside Rothbard's philosophy, America's Great Depression is a useful exposition of Rothbard's economic ideology and the Austrian School of Economics he was associated with. Rothbard opens the text with a succinct explanation of the Business Cycle Theory before addressing the history of the Great Depression. In short, Rothbard argues that government regulation of interest rates and the money supply - "easy money" policies - inevitably lead to misjudgements by investors, who assume that t [...]

    4. None

      Already in the first 20 pages you will learn the basics of what the Austrian Business cycle entails. From there Rothbard delves into the details. Everything in the book is explained in a way that makes the concepts easy to understand for the lay person. This book explains the depression in a way that not only goes into numbers but explains human action, something that most mainstream economic schools of thought either ignore or refuse to give credit to. You will walk away from this book with a [...]

    5. None

      In America's Great Depression, Rothbard does a great job of debunking the common fallacies that the Great Depression was caused (1) because the Fed failed to inflate the money supply in reaction to the contraction in the money supply, caused by the collapse of thousands of banks. Rothbard argues, accompanied with plenty of data to back his arguments, that the Fed and the banks were engaging in constant credit expansion throughout the Roaring 20s, which caused the Great Depression in the first pl [...]

    6. None

      Hoover is often criticized for not doing enough to end the great depression, however this book points out how that was hardly the case. Roosevelt's new deal was nothing more than a continuation of Hoover's interventionist policies. Rothbard explains in great detail all the inflationary policies of the Federal Reserve that created the bubble leading up to it's inevitable burst. The book demonstrates the failure of central planning, and how the governments interventionist schemes only prolonged th [...]

    7. None

      Complete and exhaustive study of the causes of the Great Depression and the causes of depressions in general complete with competing theories and their shortcomings.Rothbard does the hard work of explaining the whys and wherefores of depression and why common ideas about the cause of depression are wrong.

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