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America's Great Depression | [Murray N. Rothbard]

America's Great Depression

The Great Depression was not a crisis for capitalism but merely an example of the downturn part of the business cycle, which was generated by government intervention in the economy. Had this book appeared in the 1940s, it might have spared the world much grief. Even so, its appearance in 1963 meant that free-market advocates had their first full-scale treatment of this crucial subject.
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Publisher's Summary

Applied Austrian economics doesn't get better than this. Murray N. Rothbard's America's Great Depression is a staple of modern economic literature and crucial for understanding a pivotal event in American and world history.

The Great Depression was not a crisis for capitalism but merely an example of the downturn part of the business cycle, which was generated by government intervention in the economy. Had this book appeared in the 1940s, it might have spared the world much grief. Even so, its appearance in 1963 meant that free-market advocates had their first full-scale treatment of this crucial subject. The damage to the intellectual world inflicted by Keynesian- and socialist-style treatments would be limited from that day forward.

©1978 Murray N. Rothbard; (P)2008 Blackstone Audio, Inc.

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3.7 (113 )
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  •  
    Damon Dallas, TX, USA 09-26-08
    Damon Dallas, TX, USA 09-26-08
    HELPFUL VOTES
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    "required reading- hard to capture over audio"

    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.

    24 of 25 people found this review helpful
  •  
    James Marengo, IA, USA 10-30-08
    James Marengo, IA, USA 10-30-08 Member Since 2006
    HELPFUL VOTES
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    "Outstanding historical analysis"

    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.

    26 of 30 people found this review helpful
  •  
    peter Houten, Netherlands 12-27-08
    peter Houten, Netherlands 12-27-08 Member Since 2005
    HELPFUL VOTES
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    "a classic"

    A classic work on how the initiation of violence caused the great depression and suffocated any recovery. Unfortunately read rather fast for the complexity of the subject matter and the amount of detailed data. If you are not very familiar with economic terms, it might go a bit fast and I would recommend the paper version.

    13 of 16 people found this review helpful
  •  
    Douglas Auburn, WA, United States 03-01-13
    Douglas Auburn, WA, United States 03-01-13 Member Since 2008

    College English professor who loves classic literature, psychology, neurology and hates pop trash like Twilight and Fifty Shades of Grey.

    HELPFUL VOTES
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    "Read The Description!"

    I bought this book thinking it would be a history of the Great Depression, and it turned out to be an extremely detailed analysis of Keynesian economics and how this prolongs "panics" into "depressions." I shifted expectation gears and forced myself to continue listening and found it to be quite informative, and, by chance, it happily followed my reading of Buckley's God And Man At Yale, in which Buckley also criticizes Keynesian economics.

    1 of 1 people found this review helpful
  •  
    Keith ROUND ROCK, TEXAS, United States 05-05-13
    Keith ROUND ROCK, TEXAS, United States 05-05-13 Member Since 2012
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    "Reads like a text book"
    This book wasn’t for you, but who do you think might enjoy it more?

    Very boring and technical


    Would you ever listen to anything by Murray N. Rothbard again?

    I might give another chance.


    Who would you have cast as narrator instead of Tom Weiner?

    No I would not


    If you could play editor, what scene or scenes would you have cut from America's Great Depression?

    No changes at all.


    Any additional comments?

    Its very technical it reads like a text book.

    0 of 0 people found this review helpful
  •  
    Richard Toronto, Ontario, Canada 02-25-13
    Richard Toronto, Ontario, Canada 02-25-13 Member Since 2012
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    "Murray Rothbard tells it like it is - or was"
    If you could sum up America's Great Depression in three words, what would they be?

    Economics is normally a boring subject, but Austrian School economics tells the truth about everything. If you want to truly understand our money and what's going on you should listen to this book. I would also recommend Rothbard's other books, like What has Government Done to our Money. Richard R., Toronto


    0 of 0 people found this review helpful
  •  
    Jonnie Panama City, FL, United States 09-23-09
    Jonnie Panama City, FL, United States 09-23-09 Member Since 2007
    HELPFUL VOTES
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    "Way too much technical analysis of economics"

    The first half of the book has some great gems for understanding our economic condition but you have to wade through way too much detailed economic analysis for it to be worthwhile for the average reader. The second half is more historical and more interesting and understandable for everyone not trained in economic theory. If you want the short version go to Ron Paul's End the Fed and you will get an interesting and easily understood version of a similar message. If you want online print versions of Austrian economic theory go to the Mises Institute online.

    3 of 9 people found this review helpful
  •  
    James Rockland, MA., United States 10-23-08
    James Rockland, MA., United States 10-23-08 Member Since 2007
    HELPFUL VOTES
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    "Too much to listen to."

    I thaught this would be a simple expliantion on the major causes of the gret depression. It was more like a doctorial thesis. I might read this book, but listening to it is extremely difficult. It's way too complicated to passively listen to. Your always losing track of the details. It may be a good reference book for school.

    4 of 21 people found this review helpful
  •  
    Mitch Buena Park, CA, United States 11-08-12
    Mitch Buena Park, CA, United States 11-08-12

    I am a documentary film producer from Los Angeles.

    HELPFUL VOTES
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    "Unbearable repetitious, dry economic theory"

    I pride myself as a economic theory geek, but this was beyond anyone's ability to digest. The first two chapters simply dont contain any events, characters or real life facts. Instead, a robotic voice tells you the relationship between the savings curb and the investment curb in a deflationary environment. Then a lot of these dry axioms are repeated in different words 2-3 times, as if the author is struggling to fill up time.
    All these theories are presented as gospel, no point and counterpoint, and there are no real life examples of how they apply.

    About one third in the book, you start getting characters, presidents from the 30ties and other officials. The same theories start repeating, but now there are some events and people put them in practice.

    A very strange book, I just could not bear it...

    0 of 3 people found this review helpful
  •  
    Billy mesquite, TX, USA 04-15-09
    Billy mesquite, TX, USA 04-15-09 Member Since 2006
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    "Witch hunt"

    If you supported Ron Paul then this is the book for you otherwise skip this one and read (The Global Impact of the Great Depression, 1929-1939) it is A far better book and does not seek to make the U.S. Government out to be the Great Satan.

    Pastmasterbd

    7 of 53 people found this review helpful
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  • John
    Bristol, United Kingdom
    11/7/12
    Overall
    "Depressed that I wasted a credit on it!"

    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 0 people found this review helpful
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