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Binding: HardcoverEAN: 9780945466055 ISBN: 0945466056 Label: Ludwig Von Mises Institute Manufacturer: Ludwig Von Mises Institute Number Of Items: 1 Number Of Pages: 368 Publication Date: June 15, 2000 Publisher: Ludwig Von Mises Institute Studio: Ludwig Von Mises Institute Related Items:
Browse for similar items by category: Click to Display Editorial Review: Product Description: 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. Average Rating:
 Rating: - Eye-Opening after some dry preparationThe first 100 pages or so of this book are tough-going with Rothbard confining himself to economic theory which makes for dry reading. Eventually, this gives way to actual history in which Rothbard convincingly demonstrates that not only wasn't Hoover a laissez-faire capitalist as we've been commonly taught, but he pushed for policies that Roosevelt in turn simply pushed further to their logical statist conclusion. Many of the programs Hoover supported will sound ominously familiar to readers of ... Read More Rating:  - Clairvoyant EconomicsIn his 1982 introduction to the third edition, Rothbard wrote: "A Democratic administration may be expected to inflate with even more enthusiasm (than the Reagan administration was then engaged in doing). We can look forward, therefore, not precisely to a 1929-type depression, but to an inflationary depression of massive proportions." Although premature in this prognosis, the state of the economy in October 2008 makes Rothbard's remark sound prescient. Anyone wondering whether or not the economic ... Read More Rating: - Truer today than it was 40 years agoWe all understand that particular industries and markets may go through hard times at one point or another. But what causes an entire economy to flourish, only to contract at a later date? What causes the entire economy to misread the economic signs? What causes the entire economy to misforecast and make bad investments? What causes a "Cluster of Errors"? It is hard to believe that anyone could casually discount Rothbard's analysis of the business cycle and the Great Depression given ... Read More Rating: - The Real Deal on the New DealIf we are talking about collectivist government privileges interfering with the sound functioning of a prosperous economy, Rothbard knows we can't start researching the Great Depression with Roosevelt's response to an economic collapse. Rather, there's not much to be said about him in this book. Rather we look to some pretty non-traditional trends in government power. We go before WWI and the ensuing debt, and the resulting advantages in the world economy. Rothbard even goes into a history ... Read More Rating:  - Economics is not a fact-free scienceMurray Rothbard's book, America's Great Depression, is really two books in one. One is a very bad book. It purports to use economic tools to explain how the Great Depression came to be. The other is a potentially very good book. What is suggests is that Herbert Hoover, although well intended, engineered a bad situation into a catastrophe. Overall, I do not recommend the book to the general public as having a good explanation of why events of the 1920s led to the Great Depression, nor would I recommend ... Read More 
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