America’s Great Depression

Lew Rockwell writes:

After Rothbard’s masterful integration, economists can no longer dismiss recessions and depressions as an “inevitable” part of the market economy. Instead, it is clear, they are caused by central bank inflation, and the corresponding distortion of interest rates, malinvestment of capital, theft of savings, and price increases that go with it. Government, of which the central bank is only an arm, is the real source of business cycles.

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Review by Chase:

Already in the first 20 pages you will learn the basics of what the Austrian Business cycle entails. From there Rothbard delves into the details. Everything in the book is explained in a way that makes the concepts easy to understand for the lay person. This book explains the depression in a way that not only goes into numbers but explains human action, something that most mainstream economic schools of thought either ignore or refuse to give credit to. You will walk away from this book with a better understanding of the causes of the Great Depression. This book since it’s early 1960’s publishing remains relevant especially in today’s easy money low interest rate environment. Not only is Rothbard a master at effectively communicating his ideas; you can read this book in confidence because he cites his sources (when needed) at the bottom of the page.

Reprinted from Amazon.com.

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