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Murray N. Rothbard
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Economic Depressions: Causes & Cures

4.23 of 5 stars 4.23  ·  rating details  ·  62 ratings  ·  5 reviews
Rothbard's explanation of economic depression and what the government needs to do to cure them.
pamphlet book, 30 pages
Published March 5th 1969 by Constitutional Alliance, Inc. (first published 1969)
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Yifan (Evan) Xu (Hsu)
I have neither the competence nor the intent to evaluate theories proposed in this book. But there is the little wishful thought to synthesize their logical components and understand them with my own words.

The following is the synthesis of the book:

Part I - Attack the Keynesians

Rothbard criticized the view of Keynesians towards business cycle is simplicit and even naivete:
1) If there is inflation, then it must be caused by excessive spending of private consumers. To reduce public spend
Andy Katherman
Rothbard does it again with this excellent yet short book. He sums up the REAL reason why we have business cycles. After being told over and over again since 1936 that animal spirits and insufficient aggregate demand are the cause of the downturns, a cogent explanation of the business cycle that originated with Ricardo and refined by Mises and Hayek is put in laymens terms. Why the sudden cluster of errors by all these smart and successful entrepreneurs? Why do capital goods fall in price/demand ...more
Spicy T AKA Mr. Tea
Rothbard challenges the notion that the government has to play any role in market regulation. His solution? A hands-off approach. If we let the market regulate itself, then it will eventually return to its "natural state". This happens by a "necessary and healthy phase by which the market economy sloughs off and liquidates the unsound, uneconomic investments of the boom, and reestablishes the proportions between consumption and investment that are truly desired by the consumers." Sounds like som ...more
Brad Harris
Short but great. introduced me to a lot of banking and credit concepts.
John Sharp
Wow, quick, easy and to the point. Government interference in free markets, i.e. central banks, are what cause depressions. Currently, the Obama administration, has a plan to broaden the regulatory powers of the Federal Reserve. Bad idea, thier monetary policy is what caused this latest meltdown.
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Murray Newton Rothbard was an influential American historian, natural law theorist, Aristotelian and economist of the Austrian School who helped define modern libertarianism. Rothbard took the Austrian School's emphasis on spontaneous order and condemnation of central planning to an individualist anarchist conclusion, which he termed "anarcho-capitalism".

Source: Wikipedia
More about Murray N. Rothbard...
What Has Government Done to Our Money? and The Case for the 100 Percent Gold Dollar For a New Liberty: The Libertarian Manifesto The Ethics of Liberty The Case Against the Fed Anatomy of the State

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