America's great depression

About “America's great depression”

America's Great Depression is a 1963 book by Murray Rothbard, an economist associated with the Austrian School. The book examines the causes of the 1930s economic downturn. Rothbard uses the Austrian theory of the business cycle to argue that the Federal Reserve's inflationary policies during the 1920s contributed to the depression. He also criticizes Herbert Hoover's government interventions following the 1929 stock market crash, claiming these actions worsened the economic crisis. Rothbard maintains that the depression was not caused by free-market capitalism or private investment but by government actions. (Summary adapted from Wikipedia, CC BY-SA 4.0.)