{"id":625,"date":"2024-09-20T16:41:34","date_gmt":"2024-09-20T22:41:34","guid":{"rendered":"https:\/\/marginalnonhermit.com\/?p=625"},"modified":"2025-05-14T16:20:56","modified_gmt":"2025-05-14T22:20:56","slug":"rothbards-americas-great-depression-chapter-nine","status":"publish","type":"post","link":"https:\/\/marginalnonhermit.com\/?p=625","title":{"rendered":"Rothbard&#8217;s <i>America&#8217;s Great Depression<\/i>, Chapter Nine"},"content":{"rendered":"\n<iframe id=\"odysee-iframe\" style=\"width:100%; aspect-ratio:16 \/ 9;\" src=\"https:\/\/odysee.com\/$\/embed\/@MarginalNonHermit:3\/Americas-Great-Depression-Ch9:c?r=8gvoByECHNgc2BfQ5o91oxf89bpi1Ui4\" allowfullscreen><\/iframe>\n\n\n\n<p class=\"\">In chapter nine, Rothbard covers the ups and downs of 1930. This year is particularly interesting because it seemed as if the quick actions in the last quarter of 1929 had fixed the problems. In the first half of 1930, the general public thought things were looking good, considering how markets had bounced back and how a massive propaganda campaign was targeted at making them feel secure. <\/p>\n\n\n\n<p class=\"\">Of course, the additional inflationary spending of late 1929 and early 1930 only made the problem bigger while papering over it for a short time.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p class=\"\">Rothbard traces how the situation continued to get worse, with employment falling along with prices and production, while consumption stayed at the same level. Not a recipe for great results.<\/p>\n\n\n\n<p class=\"\">See my show notes <a href=\"https:\/\/marginalnonhermit.com\/wp-content\/uploads\/2024\/09\/rothbard-depression-notes-ch9.pdf\">here<\/a>.<\/p>\n\n\n\n<p class=\"\">Return to the series list <a href=\"https:\/\/marginalnonhermit.com\/?page_id=763\">here<\/a>.<\/p>\n\n\n\n<p class=\"\">This video is available on <a href=\"https:\/\/odysee.com\/@MarginalNonHermit:3\/Americas-Great-Depression-Ch9:c\">Odysee<\/a>, <a href=\"https:\/\/old.bitchute.com\/video\/WyMP8bmWPsML\/\">BitChute<\/a>, and <a href=\"https:\/\/www.youtube.com\/watch?v=xV_00g84krs\">YouTube<\/a>.<\/p>\n\n\n\n<p class=\"\"><span style=\"text-decoration: underline;\">References<\/span><\/p>\n\n\n\n<p class=\"\">Anderson, <em>Economics and the Public Welfare<\/em><br><a href=\"https:\/\/archive.org\/details\/economicspublicw0000ande\/page\/n3\/mode\/2up\">https:\/\/archive.org\/details\/economicspublicw0000ande\/page\/n3\/mode\/2up<\/a><\/p>\n\n\n\n<p class=\"\">Hoover, <em>The Memoirs of Herbert Hoover<\/em><br><a href=\"https:\/\/archive.org\/details\/memoirsofherbert0002hoov\">https:\/\/archive.org\/details\/memoirsofherbert0002hoov<\/a><\/p>\n\n\n\n<p class=\"\">Fahey, <em>Tariff Barriers and Business Depression<\/em><br><a href=\"https:\/\/www.jstor.org\/stable\/1172703\">https:\/\/www.jstor.org\/stable\/1172703<\/a><\/p>\n\n\n\n<p class=\"\">Taussig, <em>The Tariff Act of 1930<\/em><br><a href=\"https:\/\/www.jstor.org\/stable\/1882525\">https:\/\/www.jstor.org\/stable\/1882525<\/a><\/p>\n\n\n\n<p class=\"\">Taussig, <em>The Tariff, 1929-30<\/em><br><a href=\"https:\/\/www.jstor.org\/stable\/1885247\">https:\/\/www.jstor.org\/stable\/1885247<\/a><\/p>\n\n\n\n<p class=\"\">Divine, <em>American Immigration Policy, 1924-1952<\/em><br><a href=\"https:\/\/archive.org\/details\/americanimmigrat0000divi\/page\/n7\/mode\/2up\n\">https:\/\/archive.org\/details\/americanimmigrat0000divi\/page\/n7\/mode\/2up<\/a><\/p>\n\n\n\n<p class=\"\">Bernstein, <em>The Lean Years<\/em><a href=\"https:\/\/archive.org\/details\/americanimmigrat0000divi\/page\/n7\/mode\/2up\n\"><br><\/a><a href=\"https:\/\/archive.org\/details\/leanyearshistory0000bern_f7p8\/page\/n5\/mode\/2up\n\">https:\/\/archive.org\/details\/leanyearshistory0000bern_f7p8\/page\/n5\/mode\/2up<\/a><\/p>\n\n\n\n<p class=\"\">Warren, <em>Herbert Hoover and the Great Depression<\/em><a href=\"https:\/\/archive.org\/details\/leanyearshistory0000bern_f7p8\/page\/n5\/mode\/2up\n\"><br><\/a><a href=\"https:\/\/archive.org\/details\/herberthoovergre0000warr_f2d0\">https:\/\/archive.org\/details\/herberthoovergre0000warr_f2d0<\/a><\/p>\n\n\n\n<p class=\"\"><em>History of the Employment Stabilization Act of 1931<\/em><br><a href=\"https:\/\/budgetcounsel.com\/wp-content\/uploads\/2016\/10\/1945-07-30-rept-banking-committee-related-to-s-380.pdf\n\">https:\/\/budgetcounsel.com\/wp-content\/uploads\/2016\/10\/1945-07-30-rept-banking-committee-related-to-s-380.pdf<\/a><\/p>\n\n\n\n<p class=\"\">Reeve, <em>Monetary Reform Movements; Recent Plans and Panaceas<\/em><a href=\"https:\/\/budgetcounsel.com\/wp-content\/uploads\/2016\/10\/1945-07-30-rept-banking-committee-related-to-s-380.pdf\n\"><br><\/a><a href=\"https:\/\/archive.org\/details\/monetaryreformmo0000unse\/page\/n7\/mode\/2up\n\">https:\/\/archive.org\/details\/monetaryreformmo0000unse\/page\/n7\/mode\/2up<\/a><\/p>\n\n\n\n<p class=\"\"><em>Hearings Before the Committee on the Judiciary, House of Representatives on S. 3059&#8230;<\/em><br>(Rothbard cites a Senate hearing but I think he was talking about this&#8230;)<a href=\"https:\/\/archive.org\/details\/monetaryreformmo0000unse\/page\/n7\/mode\/2up\n\"><br><\/a><a href=\"https:\/\/archive.org\/details\/unemploymentinun00unit\/page\/14\/mode\/2up\n\">https:\/\/archive.org\/details\/unemploymentinun00unit\/page\/14\/mode\/2up<\/a><\/p>\n\n\n\n<p class=\"\">Dorfman, <em>The Economic Mind in American Civilization<\/em><a href=\"https:\/\/archive.org\/details\/unemploymentinun00unit\/page\/14\/mode\/2up\n\"><br><\/a><a href=\"https:\/\/mises.org\/library\/book\/economic-mind-american-civilization-1606-1865-volume-one\n\">https:\/\/mises.org\/library\/book\/economic-mind-american-civilization-1606-1865-volume-one<\/a><\/p>\n\n\n\n<p class=\"\">Loth, <em>Swope of G.E.<\/em><a href=\"https:\/\/mises.org\/library\/book\/economic-mind-american-civilization-1606-1865-volume-one\n\"><br><\/a><a href=\"https:\/\/archive.org\/details\/swopeofgestoryof00loth\/page\/n5\/mode\/2up\n\">https:\/\/archive.org\/details\/swopeofgestoryof00loth\/page\/n5\/mode\/2up<\/a><\/p>\n\n\n\n<p class=\"\">Ratner, <em>American Taxation: Its History as a Social Force in Democracy<\/em><a href=\"https:\/\/archive.org\/details\/swopeofgestoryof00loth\/page\/n5\/mode\/2up\n\"><br><\/a><a href=\"https:\/\/books.google.com\/books\/about\/American_Taxation.html?id=RwI0AAAAIAAJ\">https:\/\/books.google.com\/books\/about\/American_Taxation.html?id=RwI0AAAAIAAJ<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In chapter nine, Rothbard covers the ups and downs of 1930. This year is particularly interesting because it seemed as if the quick actions in the last quarter of 1929 had fixed the problems. In the first half of 1930, the general public thought things were looking good, considering how markets had bounced back and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":499,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,4,2],"tags":[197,37,198,48,72,196,199],"class_list":["post-625","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economics","category-political","category-video-link","tag-americas-great-depression","tag-economics","tag-great-depression","tag-history","tag-politics","tag-rothbard","tag-study-guide"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/marginalnonhermit.com\/wp-content\/uploads\/2023\/12\/dollars.jpg?fit=800%2C529&ssl=1","jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/marginalnonhermit.com\/index.php?rest_route=\/wp\/v2\/posts\/625","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/marginalnonhermit.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/marginalnonhermit.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/marginalnonhermit.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/marginalnonhermit.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=625"}],"version-history":[{"count":3,"href":"https:\/\/marginalnonhermit.com\/index.php?rest_route=\/wp\/v2\/posts\/625\/revisions"}],"predecessor-version":[{"id":790,"href":"https:\/\/marginalnonhermit.com\/index.php?rest_route=\/wp\/v2\/posts\/625\/revisions\/790"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/marginalnonhermit.com\/index.php?rest_route=\/wp\/v2\/media\/499"}],"wp:attachment":[{"href":"https:\/\/marginalnonhermit.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=625"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/marginalnonhermit.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=625"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/marginalnonhermit.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=625"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}