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Rothbard's America's Great Depression

The Human Action Podcast

Tags Book ReviewsBooms and BustsU.S. HistoryAustrian Economics OverviewMonetary Theory

01/29/2021Jeff DeistJonathan Newman

Professor Jonathan Newman joins the show for a look at America's Great Depression, Rothbard's classic explanation of a terrible period in US history. This book provides one of the best short surveys of Austrian business cycle theory, along with deep history surrounding the inflationary run-up of the 1920s and the disastrous mistakes made by the "laissez-faire" Hoover administration in the 1930s. Any serious student of booms and busts needs to read this cautionary tale, as does anyone worried about unconstrained monetary policy in the wake of Covid-19 lockdowns. It can happen here, and it can happen again, if Rothbard's counsel goes unheard.

Find the online version of the book at

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Note: The views expressed on are not necessarily those of the Mises Institute.

Contact Jeff Deist

Jeff Deist is president of the Mises Institute. He previously worked as chief of staff to Congressman Ron Paul, and as an attorney for private equity clients. Contact: email; Twitter.

Contact Jonathan Newman

Jonathan Newman is Assistant Professor of Economics and Finance at Bryan College and an Associated Scholar of the Mises Institute. He earned his PhD at Auburn University while a Research Fellow at the Mises Institute. 

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