There is no shortage of alternatives to the Austrian capital theory as an explanation of recessions, yet all of these are largely just the rehashed arguments of monetary cranks from the early twentieth century. One does not even need to read modern rebuttals of the latest line of Keynesian and pop psychology theories. Reading Hayek's Monetary Theory and the Trade Cycle, from 1933, or Rothbard's America's Great Depression, from 1963, is sufficient.