Economic Depressions: Their Cause and Cure
Murray Rothbard was the master of reducing complicated theories to their very essence while retaining theoretical rigor, and this essay is a case in point. It was written in 1969 and published in the form of a tiny book that achieved a huge circulation. It has not been in print since that time, but it is now back in this new release.
Its continued relevance speaks to an aspect of the Austrian theory that other theories can't boast. It is a real theory that applies across time and place, and its persuasive power is not contingent on the particulars of any individual boom bust cycle.
Note: The views expressed on Mises.org are not necessarily those of the Mises Institute.
Mises Institute 2009; originally published as a minibook in 1969 by the Constitutional Alliance of Lansing, Michigan.