Depression-Era Historical Analysis

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Depression-Era Historical Analysis-Paul Johnson

“The Great Depression was a failure not of capitalism but of the hyperactive state.”

– Paul Johnson, and his introduction to Murray N. Rothbard’s, America’s Great Depression


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Capitalism has certainly taken its lumps over the past year — lumps that, in my opinion, it doesn’t deserve. If you want to know how capitalism started to really get a bad name, we have to go back to the Great Depression. Contrary to what many people accept as economic gospel, the Great Depression was not capitalism gone wild. Rather, it was created, and prolonged, by too much government.

If you really want to educate yourself about the true causes of the Great Depression, then read Murray Rothbard’s fantastic book, America’s Great Depression. I guarantee that after reading this work, you’ll have a much better understanding about the pernicious effects of government intrusion in the economy — both then, and now.

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