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Economic Depressions: Their Cause and Cure
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Book • 1969
"Economic Depressions: Cause and Cure" is a concise explanation of the Austrian Business Cycle Theory by Murray Rothbard.
Rothbard argues that government manipulation of money and credit is the primary cause of economic depressions.
Artificial credit expansion leads to malinvestment and unsustainable booms.
When the credit expansion ends, the malinvestments are revealed, leading to a bust.
The cure is not further government intervention but allowing the market to correct itself.
Rothbard advocates for a free market monetary system, such as a gold standard, to prevent future boom-bust cycles.
Rothbard argues that government manipulation of money and credit is the primary cause of economic depressions.
Artificial credit expansion leads to malinvestment and unsustainable booms.
When the credit expansion ends, the malinvestments are revealed, leading to a bust.
The cure is not further government intervention but allowing the market to correct itself.
Rothbard advocates for a free market monetary system, such as a gold standard, to prevent future boom-bust cycles.
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Joseph Salerno
Why We Need Austrian Economics
