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America's Great Depression Hardcover – April 3, 2009
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Rothbard refutes key misconceptions about the market economy and the Hoover administration's interventionist policies. Was the Great Crash due to capitalism gone wild? Was President Hoover the proponent of laissez-faire that some continue to insist? Did his interventionist actions assuage the depression? _America's Great Depression_ will always be important because of the Great Depression's legacy. Many continue to believe that the free market economy is inevitably inclined to collapse. Also, the interventionist policies of Presidents Hoover and Roosevelt accelerated the growth of the welfare state.
Economists have always observed the relationship between money supplies and business cycles. Rothbard goes a few steps farther, applying the Austrian school's theory of the business cycle to the Federal Reserve's monetary policies during the 1920s. Rothbard spends the first part of the book detailing the credibility of the Austrian theory and dismantling other theories. He shows how artificial increases in the money supply creates harmful imbalances in the economy. With this premise, Rothbard explains that the Federal Reserve's inflationary abuse of the money supply in the "Roaring Twenties" set the economy up for an unsustainable growth spurt that ended in disaster in 1929. (The scary thing is that prices remained fairly stable and hid the effects of inflation with ruinous results.Read more ›
Most books cover the human aspect of this period in American history and that's important. And most of the books cover the events leading up to the crash and depression. But this is the only book I've read that exposes the dynamics behind the scenes that caused the crash and it's terrible crushing length and enormous suffering.
Rothbard explains in great detail how government butted in where it was not needed and created untold suffering. He explains how we allowed England to dictate to us and how in our desire to help Her, our government intentionally hurt its own citizens.
Rothbard was a great economist and a great proponent of the libertarian cause. His belief in Laissez-faire economics is behind his philosophy. It is Laissez-faire that created this country and it is the loss of it that has and is causing us grief and loss of liberty.
This is an excellent book. Published by the Ludwig von Mises Institute, it is a book you'll want to read again and again. Austrian economics are exciting and workable and the Ludwin von Mises Institute is a dynamic proponent of this very workable economic philosophy.
If you are interested in economics and the Great Depression and its real causes, you must read this powerful, well written book.
Most Recent Customer Reviews
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. Read morePublished 2 months ago by Martyn Speck
Fantastic stories of struggle, unity and hardships in our Nation.Published 3 months ago by Donald L. Miller
This book is complete garbage. Don't waste your money. You've been warned.Published 5 months ago by Israel Contreras
The author continually writes in absolutes which I find unsuitable for disputed economic theory. He also mis uses math to back up his points. Read morePublished 10 months ago by Amazon Customer
don't like the fact that he bashes on unions; the only middle class workers.....pretty much explains that the depression was caused by government inflation but falsely blamed on... Read morePublished 10 months ago by kings
The nostrums that didn't work in the Thirties still don't work today. Prof Rothbard's contention that government intervention caused the Depression in the Thirties and that... Read morePublished 11 months ago by Laurence C. Berg
Kindle version is missing many tables and charts. The footnotes are unmarked and interspersed with text creating a jumbled mess in the narrative. Read morePublished 12 months ago by Clark