What caused the stock-market crash of 1929 and the Great Depression that followed?
This book blows away the conventional interpretations, not only in its contents but that the book exists at all. The Bubble that Broke the World was written in 1931. Author Garet Garrett ascribes the crash to the pileup of debt, which in turn was made possible by the Federal Reserve’s printing machine. This created distortions in the production structure that cried out for correction. So what is the answer? Let the correction happen and learn from our mistakes.
Such is the thesis of the great Garet Garrett. But take note: this book was a big seller in 1931. In other words, two years before FDR arrived with his destructive New Deal, ascribing the Depression to capitalism and speculation, Garrett had already explained what was really behind the correction.
We are still fighting an uphill battle to explain the true causes of stock-market crashes and economic recessions, especially the Great Depression. But here in this wonderful book is an actual contemporary account that spelled it out plainly for the world to see.
No more can we say that people back then could not have understood. Garrett told them. And thanks to this new edition of this classic and important work, he is telling us again today.
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Garet Garrett (1878–1954) was an American journalist and author who was noted for his critiques of the New Deal and US involvement in the Second World War.
El poder ejecutivo en los Estados Unidos ya no es un poder coigualitario; es el poder dominante en el país, como el Imperio requiere.
Sobre el libro de Keynes se ha fundado una nueva iglesia económica, completamente dotada de todas las propiedades propias de una iglesia, como una revelación propia, una doctrina rígida, un lenguaje simbólico, una propaganda, un sacerdocio y una demonología.
El hombre descubrió el valor de los mercados libres, la libre competencia y la libre empresa. Pero luego los gobiernos que el hombre creó para «proteger» estos derechos los destruyeron en su lugar.
Boston: Little Brown, 1932
