Regular price: $20.97
Buy Now with 1 Credit
Buy Now for $20.97
Murray Rothbard is one of the Austrian Economists who Rep. Ron Paul puts on his reading list. This book is very technical and requires a lot of concentration to truly understand the causes of the depression and what prolonged the depression.
This book gives an excellent account of causes of the great depression in the 20s. It uncovers banker's corruption, moral suasion, and secrets of Cal and Harding's presidency. There are unfortunately many similarities between the greenspan/bernanke fed and the fed of the 20's.
This book should be required reading for every person elected to our congress.
27 of 29 people found this review helpful
Excellent book, but not for someone looking for a biographical history filled with famous personalities or a social history looking back at everyday life during a time of 25% unemployment. This is an economic history. It is recommended for anyone who would like a detailed anaylisis of how federal monetary policy errors can cause false booms by expanding the credit money supply, leading eventually to inevitable recessionary or depressionary corrections. It also explores how Keynesian fiscal policy tends to exacerbate and extend these periods of correction. Interesting, if for no other reason than this cycle of inflationary boom and recession/depression is still with us, and the same disproven tactics are still used as treatments. Anyone interested in the history of banking, finance or economics will probably find this a good read.
30 of 34 people found this review helpful
Okay my rating and title are perhaps a little unfair. I think the problem is that Audiobooks have placed it in the History section and I suppose, lured by the picture, I thought it was going to be an historical account.
Not a bit of it!
Unless you have a PhD in Economics and have run several international monetary funds and a couple of central banks I would advise you to steer well clear of this. I think even the Governor of the Bank of England would wonder what on earth it is all about!
I confess I only listened to about 40 minutes of it on the bus but that was enough and the other passengers were complaining because I was inadvertently chewing my right leg off in agony!
I am sure for Economists it is great and I am sure the author really knows his stuff but Audiobooks I politely say that you really do need to re-classify this away from the History section.
Again I am trying to be broad-minded and all-embracing but have to say if the first 40 minutes was anything to go by it is really difficult to see why anyone would want to listen to this as an audiobook. A textbook fine, as an academic work that you can cross-reference, refer back through etc.but not an audiobook to listen to when mowing the lawn (you would probably throw yourself under the blades!).
0 of 1 people found this review helpful
Clearly explains the real causes of the Great Depression and how government intervention acted to prolong it. Provides economic theory that cuts through the anti-laissez faire mythology of Keynesians and Monetarists to provide a well reasoned and accurate history of this period.
Highly recommend to anyone critical of the modern banking system and government intervention. Recommend even more to people who aren't!