America's Great Depression

America's Great Depression

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by Murray Newton Rothbard
     
 

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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

Overview

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.

About the Author

Murray N. Rothbard, the author of 25 books and thousands of articles, was a historian, philosopher, and dean of the Austrian School of economics. The S.J. Hall Distinguished Professor of Economics at the University of Nevada, Las Vegas, he was also Academic Vice President of the Ludwig von Mises Institute in Auburn, Ala.

Product Details

ISBN-13:
9780836206340
Publisher:
Andrews McMeel Publishing
Publication date:
01/01/1975
Series:
Studies in Economic Theory
Edition description:
REVISED
Pages:
361

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America's Great Depression 3.5 out of 5 based on 0 ratings. 13 reviews.
Anonymous More than 1 year ago
The content is great. But this edition is an atrociously bad OCR job. Don't bother getting it.
FSDutch More than 1 year ago
I agree with one of the other reviews of this book. I enjoy reading Rothbard and the parts of this that I could read were good, but the OCR is terrible. I deleted it and decided to look for a used, print copy.
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