Depression Economics

As you may know, there are three main theories about the Great Depression. Really, these are macroeconomic theories about the overall operation of the economy. David Gordon has a great review of a book that examines these theories and advances the notion that the Austrian theory is correct. It’s very convincing. It’s also discouraging, because it follows that the Bush/Obama approach to the financial crisis will only make things worse.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: