Economic Depressions: Their Cause and Cure

<div class="group-left col-xs-4 col-xs-4 col-xs-4" style="box-sizing: border-box; clear: left; color: #494e54; float: left; font-family: myriad-pro, 'Helvetica Neue', Helvetica, Arial, sans-serif; font-size: 15px; min-height: 1px; padding-left: 10px; padding-right: 10px; position: relative; width: 237.765625px;"> <div class="image img-responsive border-secondary" style="border-top-color: rgb(56, 112, 158); border-top-style: solid; border-top-width: 8px; box-sizing: border-box; height: auto; margin-top: 5px; max-width: 100%;"> <img alt="Economic Depressions by Murray N. Rothbard" height="165" src="https://mises.org/sites/default/files/styles/list_teaser/public/static-page/img/Economic%20Depressions_Rothbard_20140918.jpg?itok=MaLpeBUT" style="-webkit-box-shadow: rgba(0, 0, 0, 0.0980392) 1px 1px 5px; background-color: white; background-position: initial initial; background-repeat: initial initial; border: 0px; box-shadow: rgba(0, 0, 0, 0.0980392) 1px 1px 5px; box-sizing: border-box; display: block; height: auto; max-width: 100%; padding: 5px; vertical-align: middle; width: 217.765625px;" title="Economic Depressions by Murray N. Rothbard" typeof="foaf:Image" width="240" /></div> <div class="tags" style="box-sizing: border-box; color: #788086; font-size: 11px; padding-top: 5px;"> <span class="tag-label bold" style="box-sizing: border-box; font-weight: 600; padding-right: 5px; text-transform: uppercase;">TAGS</span>&nbsp;<span style="box-sizing: border-box;"><a href="https://mises.org/topics/booms-and-busts" style="box-sizing: border-box; color: #788086; text-decoration: none;">Booms and Busts</a></span><span style="box-sizing: border-box;"><a href="https://mises.org/austrian-school/business-cycles" style="box-sizing: border-box; color: #788086; text-decoration: none;">Business Cycles</a></span><span style="box-sizing: border-box;"><a href="https://mises.org/austrian-school/interventionism" style="box-sizing: border-box; color: #788086; text-decoration: none;">Interventionism</a></span></div> </div> <div class="group-right col-xs-8 col-xs-8" style="box-sizing: border-box; color: #494e54; float: left; font-family: myriad-pro, 'Helvetica Neue', Helvetica, Arial, sans-serif; font-size: 15px; min-height: 1px; padding-left: 10px; padding-right: 0px; position: relative; width: 475.546875px;"> <h2 class="teaser-title" style="box-sizing: border-box; color: #00426b; font-family: crimson_text, Georgia, 'Times New Roman', Times, serif; font-size: 23px; line-height: 1.1; margin: 0px 0px 12.5px; position: relative; vertical-align: top;"> <a href="https://mises.org/library/economic-depressions-their-cause-and-cure-2" style="box-sizing: border-box; color: #38709e; text-decoration: none;">Economic Depressions: Their Cause and Cure</a></h2> <div class="group-date-author" style="box-sizing: border-box;"> <span class="date" style="box-sizing: border-box; color: #00426b; font-weight: 600; text-transform: uppercase;">JUNE 27, 2012</span><span class="author" style="box-sizing: border-box;"><a href="https://mises.org/profile/murray-n-rothbard" rel="author" style="box-sizing: border-box; color: #00426b; text-decoration: none;">Murray N. Rothbard</a></span></div> <div style="box-sizing: border-box; margin-bottom: 12.5px;"> <span style="box-sizing: border-box; line-height: 1.66667;">Murray Rothbard was the master of reducing complicated theories to their very essence while retaining theoretical rigor, and this essay is a case in point. It was originally written in 1969 and published in the form of a tiny book that achieved a huge circulation.&nbsp;</span><span style="box-sizing: border-box; line-height: 1.66667;">Its continued relevance speaks to an aspect of the Austrian theory that other theories can't boast. It is a real theory that applies across time and place, and its persuasive power is not contingent on the particulars of any individual boom bust cycle.</span></div> <div style="box-sizing: border-box; margin-bottom: 12.5px;"> <span style="box-sizing: border-box; line-height: 1.66667;">Narrated by Harold Fritsche. Music by Kevin McLeod.</span></div> <div style="box-sizing: border-box; margin-bottom: 12.5px;"> <br /></div> <div style="box-sizing: border-box; margin-bottom: 12.5px;"> <a href="http://mp3.anarchistphilosophies.com/depressions.mp3" style="background-color: #38709e; background-image: none; border-bottom-left-radius: 5px; border-bottom-right-radius: 5px; border-color: rgb(56, 112, 158); border-top-left-radius: 5px; border-top-right-radius: 5px; box-sizing: border-box; color: white; cursor: pointer; display: inline-block; font-size: 13px; line-height: 1.25; margin-bottom: 0px; padding: 6px 10px; text-align: center; text-decoration: none; vertical-align: middle; white-space: nowrap;" title="Economic Depressions Their Cause and Cure Murray N Rothbard.mp3" type="audio/mpeg; length=20774474">Download audio file</a></div> <div class="read-more" style="box-sizing: border-box; cursor: pointer; font-size: 13px; text-transform: uppercase;"> <a href="https://mises.org/library/economic-depressions-their-cause-and-cure-2" style="box-sizing: border-box; color: #788086; font-size: 13px; text-decoration: none;">READ MORE</a></div> </div>