{"product_id":"9780945466055","title":"America's Great Depression","description":"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. \u003cp\u003e  The Mises Institute edition features a new introduction by historian Paul  Johnson.\u003c\/p\u003e\u003cp\u003e    Since it first appeared in 1963, it has been the definitive treatment of the  causes of the depression. The book remains canonical today because the  debate is still very alive.\u003c\/p\u003e\u003cp\u003e    Rothbard opens with a theoretical treatment of business cycle theory,  showing how an expansive monetary policy generates imbalances between  investment and consumption. He proceeds to examine the Fed's policies of the  1920s, demonstrating that it was quite inflationary even if the effects did  not show up in the price of goods and services. He showed that the stock  market correction was merely one symptom of the investment boom that led  inevitably to a bust.\u003c\/p\u003e\u003cp\u003e    The Great Depression was not a crisis for capitalism but merely an example  of the downturn part of the business cycle, which in turn was generated by  government intervention in the economy. Had the 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.    \u003c\/p\u003e","brand":"von Mises, Ludwig Institute","offers":[{"title":"Default Title","offer_id":47028974551280,"sku":"9780945466055","price":29.95,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0737\/7593\/9824\/files\/9780945466055_p0.gif?v=1763879828","url":"https:\/\/shop-qa.barnesandnoble.com\/products\/9780945466055","provider":"Barnes \u0026 Noble (DEV)","version":"1.0","type":"link"}