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America's Great Depression
Rothbard applies Austrian business cycle theory to the causes of the Great Depression, arguing it was caused by the Federal Reserve's credit expansion in the 1920s — not the free market. He also shows that Hoover's 'laissez-faire' response was actually heavy government intervention, setting the stage for the New Deal.
This is one of the most important works in the liberty tradition — essential for any serious student of free markets and individual rights.
What You'll Learn from America's Great Depression
- 1This work offers rigorous analysis of its subject from a liberty-oriented perspective.
- 2The author builds a systematic argument from first principles.
- 3The implications for policy and practice are far-reaching.
- 4Readers will gain tools for understanding the unintended consequences of intervention.
- 5Essential reading for anyone serious about the ideas of freedom.
Murray Rothbard
Murray Rothbard is a leading thinker in the tradition of economic and political liberty. This work represents a significant contribution to the literature of freedom and free markets, and has influenced generations of students and scholars.