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. It can happen here, and it can happen again, if Rothbard's counsel goes unheard.
Yes, it can happen here. Only a fool thinks otherwise.
The American economy could not recover from legislative onslaughts by both the Republican and then the Democratic administrations. Individual enterprise, the mainspring of unprecedented wealth, didn't have a chance.
Even when an economic bust appears, there may still be enough real savings in the economy to quickly put the economy back on track. This is what brings economic recovery, not artificial "stimulus."
Circa casino’s new three-story, 78 million–pixel, high-definition screen in its sportsbook gambling compound may represent a new frontier in mega–building trends similar to those of skyscrapers.
Even when an economic bust appears, there may still be enough real savings in the economy to quickly put the economy back on track. This is what brings economic recovery, not artificial "stimulus."
Even if the central bank were to be successful in preventing the fall of the money stock, this would not be able to prevent a depression if the pool of real savings is declining.
Even if the central bank were to be successful in preventing the fall of the money stock, this would not be able to prevent a depression if the pool of real savings is declining.
Circa casino’s new three-story, 78 million–pixel, high-definition screen in its sportsbook gambling compound may represent a new frontier in mega–building trends similar to those of skyscrapers.
Central banks were already fueling artificial bubble growth and malinvestment in tech firms. Then the lockdowns sped up the trend even more.
