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Rothbard’s America’s Great Depression, Chapter Four, Part One

Here is my summary and study guide for the first half of chapter four, up to (but not including) the section “Treasury Currency” on page 116 of the fifth edition.

Rothbard is hitting us hard with data and references in this part, so be prepared!

This chapter is covering the inflationary aspects that were in play from 1921-1929, up until the crash. Rothbard shows that the inflationary parts of the economy can be attributed to the Fed and the Treasury, and that they had to inflate a crazy amount to keep prices relatively stable in the face of the massive productivity increases of the 1920s.

My outline and notes are here.

The video is available on Odysee, BitChute, and YouTube.

References (many paywalled, unfortunately):
America’s Great Depression, Rothbard
https://mises.org/library/book/americas-great-depression

Human Action, Mises
https://mises.org/library/book/human-action

Monetary Theory and the Trade Cycle, Hayek
https://mises.org/library/book/monetary-theory-and-trade-cycle

The Great Depression, Robbins
https://mises.org/library/book/great-depression

Are Time Deposits Money?, Lin
https://www.jstor.org/stable/1803818

The Federal Home Loan Bank System and the Control of Credit, McKinley
https://www.jstor.org/stable/2976850

Comment Reply, McKinley
https://www.jstor.org/stable/2975933

The Significance of Time Deposits in the Expansion of Bank Credit, 1922-28, French
https://www.journals.uchicago.edu/doi/abs/10.1086/254284?journalCode=jpe

Prof. Graham on Reserve Money and the 100 Per Cent Proposal, Lin
https://www.jstor.org/stable/1803824

100 Per Cent Reserves: Comment, Graham
https://www.jstor.org/stable/367

Studies in the Quantity Theory of Money, Friedman
https://archive.org/details/studiesinquantit0000frie/page/n7/mode/2up

The Federal Reserve System, Prochnow
https://archive.org/details/in.ernet.dli.2015.190477/page/n1/mode/2up

The Role of the Sales Finance Companies in the American Economy, Phelps
https://archive.org/details/roleofsalesfinan0000clyd

Some Implications of the Growth of Financial Intermediaries, Shelby
https://www.jstor.org/stable/2975931

Banking and Monetary Statistics 1914-1941, Federal Reserve System
https://fraser.stlouisfed.org/files/docs/publications/bms/1914-1941/BMS14-41_complete.pdf

The Supply and Control of Money in the United States, Currie
https://academic.oup.com/psq/article-abstract/50/3/432/7242097?redirectedFrom=fulltext

Economics and the Public Welfare, Anderson
https://archive.org/details/economicspublicw0000ande/page/n3/mode/2up

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