This lecture was given by Steve Horwitz on Friday January 21st at the Institute for Liberal Studies seminar: From the Great Depression to the Great Recession: How Should Governments Respond to Crisis?
This is a great introductory refutation of the myths surrounding the Great Depression that are taught in High School – often the most that anyone will learn about it.
The four components:
- Laissez-faire caused the stock market crash and thereby the depression
- Hoover was committed to laissez-faire and did nothing while things collapsed
- FDR and the New Deal saved the US from disaster
- WWII finished the job and got us out completely
Download the lecture in PDF format so you can follow along here
And listen to the lecture below (please excuse the rattlingÂ radiators):
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