America's Great Depression - Softcover

Rothbard, Murray N.

4.19

1,110 ratings by Goodreads

9781610161374: America's Great Depression

Softcover

ISBN 10: 1610161378 ISBN 13: 9781610161374

Publisher: Ludwig von Mises Institute, 2008

View all copies of this ISBN edition:

This book applies Austrian business cycle theory to understanding the onset of the 1929 Great Depression. Rothbard first summarizes the Austrian theory and offers a criticism of competing theories, including the views of Keynes.Rothbard then considers Federal Reserve policy in the 1920s, showing its inflationary character. The influence of Benjamin Strong, the Governor of the New York Federal Reserve Bank, was especially important. In part, his expansionary policy was motivated by his desire to help Britain sustain the pound. Strong was close friends with Montagu Norman, the Governor of the Bank of England.After the 1929 crash, Herbert Hoover followed an interventionist policy that prefigured the New Deal. He favored keeping wage rates high and thus contributed to rising unemployment. Against the popular stereotype, Rothbard shows that Hoover was not a partisan of laissez-faire.

"synopsis" may belong to another edition of this title.

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.

"About this title" may belong to another edition of this title.