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Rothbard, Murray N : AMERICA'S GREAT DEPRESSION

Ludwig Von Mises Institute, 2000

ISBN 9780945466055

The book has been read, but is in excellent condition. Pages are intact and not marred by notes or highlighting. The spine remains undamaged. 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 hist orian Paul Johnson, top-quality paper and bindings, in line with the standa rd set by The Scholars Edition of Human Action. Since it first appeared in 1963, it has been the definitive treatment of th e causes of the depression. The book remains canonical today because the de bate is still very alive. Rothbard opens with a theoretical treatment of business cycle theory, showi ng how an expansive monetary policy generates imbalances between investment and consumption. He proceeds to examine the Fed's policies of the 1920s, d emonstrating that it was quite inflationary even if the effects did not sho w up in the price of goods and services. He showed that the stock market co rrection 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 inflicte, Very Good/Very Good

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