This chapter is short, but really needs a little supplement from Rothbard’s other writings to really “get it.”
Don’t worry, I got your back. In the video, I identify two more passages that help explain why the goal of “stable prices” is counterproductive. They’re from Man, Economy, and State and Making Economic Sense.
Get your free copy of America’s Great Depression here:
https://mises.org/library/book/americas-great-depression
Also, you can get Man, Economy, and State here:
https://mises.org/library/book/man-economy-and-state-power-and-market
And Making Economic Sense here:
https://mises.org/library/book/making-economic-sense
For show notes, including links to references, go here.
This video is available on Odysee, BitChute, and YouTube.
References:
Historical Statistics of the United States, 1789-1945
https://www.census.gov/library/publications/1949/compendia/hist_stats_1789-1945.html
Phillips, McManus, and Nelson: Banking and the Business Cycle
https://mises.org/library/book/banking-and-business-cycle
Chandler, Benjamin Strong, Central Banker
https://archive.org/details/benjaminstrongce0000chan
Rist, Notice Biographique
https://www.jstor.org/stable/24689652
Fisher, Stabilised Money
https://archive.org/details/in.ernet.dli.2015.149825
Snyder, The Stabilization of Gold: A Plan
https://www.jstor.org/stable/1804899
Snyder, Capitalism the Creator
https://mises.org/library/book/capitalism-creator
Encyclopaedia Brittanica, 14th edition, Volume 22 (entry “Trade Cycle”)
https://archive.org/details/in.ernet.dli.2015.83491/page/n433/mode/2up
The International Gold Problem Collected Papers (see “How Do We Want Gold to Behave?”)
https://archive.org/details/in.ernet.dli.2015.73585/page/n33/mode/2up
Hawtrey, The Art of Central Banking
https://archive.org/details/dli.ernet.8052/page/n5/mode/2up
Keynes, A Tract on Monetary Reform
https://ia903007.us.archive.org/15/items/tractonmonetaryr0000keyn/tractonmonetaryr0000keyn.pdf
Lombard, Monetary Statesmanship
https://books.google.com/books/about/Monetary_Statesmanship.html?id=ypYvAAAAYAAJ
Einzig, Montagu Norman
https://archive.org/details/in.ernet.dli.2015.39711/page/n7/mode/2up
Clay, Lord Norman
https://archive.org/details/lordnorman0000clay
Lawrence, Wall Street and Washington
https://books.google.com/books/about/Wall_street_and_Washington.html?id=93tEAAAAIAAJ
Commercial and Financial Chronicle, April 6, 1929
https://fraser.stlouisfed.org/title/commercial-financial-chronicle-1339/april-6-1929-516888?page=46
Beckhart, The New York Money Market
https://www.degruyter.com/document/doi/10.7312/beck93862/html?lang=en#contents
Dorfman, The Economic Mind in American Civilzation: 1606-1865, Volume 1
https://mises.org/library/book/economic-mind-american-civilization-1606-1865-volume-one
The Annalist, Sept. 2, 1927
Harris, Twenty Years of Federal Reserve Policy
https://archive.org/details/twentyyearsoffed0000seym/page/n7/mode/2up
Aldrich, The Causes of the Present Depression and Possible Remedies
https://books.google.com/books/about/The_Causes_of_the_Present_Depression_and.html?id=iijIAAAAMAAJ