We continue our deep dive into Murray Rothbard’s classic text on the Great Depression!
Today, we’re looking at the second half of Chapter Four, which examines four different sources of inflation that the Federal Reserve controlled and exacerbated in the period between 1921-1929.
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 last part of chapter 3 finishes out part one of the book, and should be the last bit of really heavy lifting in economic theory. The next part starts Rothbard’s historical examination of the circumstances leading up to the Great Depression, so we may find things less dense, but who knows!
My notes can be found here.
Trying something a little new for this video–I’ve got a lavalier microphone and my phone set up in my office instead of in front of my PC. The audio quality is a bit worse, but the background is nicer. Is that an improvement?
Aaaaaanyway…
Today we’re covering the first half of Chapter 3. We’ll be looking at Rothbard’s arguments against Overproduction Theory, Underconsumption Theory, and the Acceleration Principle (which is actually a variation of Underconsumption Theory).
Check out my notes here.
Unfortunately, I was unable to find a convenient way to access W.H. Hutt’s “Coordination and the Price System.”
The best I could find were listings from a few university libraries: https://search.worldcat.org/title/28785415
However, the Phillips/McManus/Nelson book Banking and the Business Cycle is available free at the Mises Institute.
This video is available on Odysee and BitChute as usual.
Now, also available on YouTube!
This video covers chapter two, including an in-depth explanation of Figure 1 on page 48, with additional visual elements to help make it easier to understand.
It continues, on a reasonable time scale!
Welcome to the second part of my tutorial/study guide on Murray Rothbard’s seminal book, America’s Great Depression.