{"id":633,"date":"2024-09-25T18:05:09","date_gmt":"2024-09-26T00:05:09","guid":{"rendered":"https:\/\/marginalnonhermit.com\/?p=633"},"modified":"2025-05-14T16:21:04","modified_gmt":"2025-05-14T22:21:04","slug":"rothbards-americas-great-depression-chapter-ten","status":"publish","type":"post","link":"https:\/\/marginalnonhermit.com\/?p=633","title":{"rendered":"Rothbard&#8217;s <i>America&#8217;s Great Depression,<\/i> Chapter Ten"},"content":{"rendered":"\n<iframe id=\"odysee-iframe\" style=\"width:100%; aspect-ratio:16 \/ 9;\" src=\"https:\/\/odysee.com\/$\/embed\/@MarginalNonHermit:3\/Rothbards-Americas-Great-Depression-ch10:8?r=8gvoByECHNgc2BfQ5o91oxf89bpi1Ui4\" allowfullscreen><\/iframe>\n\n\n\n<p class=\"\">Chapter ten covers the events of 1931. Basically, after massive state intervention didn&#8217;t fix the problem in 1929 or 1930, Hoover gets the great idea that more government intervention will fix the problem in 1931 and 1932&#8230; with disastrous results.<\/p>\n\n\n\n<p class=\"\">Up until 1930, Hoover had (at least) resisted the swan song of massive government control over the economy and huge federal relief programs. During 1930, that resistance waned and set the stage for the rest of the depression.<\/p>\n\n\n\n<p class=\"\">Alternative places to watch the video are on <a href=\"https:\/\/odysee.com\/@MarginalNonHermit:3\/Rothbards-Americas-Great-Depression-ch10:8\">Odysee<\/a>, <a href=\"https:\/\/old.bitchute.com\/video\/y54FHBJHR4eQ\/\">BitChute<\/a>, and <a href=\"https:\/\/youtu.be\/F8eTEqKon8Q\">YouTube<\/a>.<\/p>\n\n\n\n<p class=\"\">Get my full notes <a href=\"https:\/\/marginalnonhermit.com\/wp-content\/uploads\/2024\/09\/rothbard-depression-notes-ch10.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=\"\"><span style=\"text-decoration: underline;\">References<\/span><\/p>\n\n\n\n<p class=\"\">(FYI, Rothbard cites a bunch of defunct journals and magazines in this chapter that are practically impossible to find outside of university library archives these days, but I did my best.)<\/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=\"\">Clark, <em>Central Banking under the Federal Reserve System&#8230;<\/em><br><a href=\"https:\/\/fraser.stlouisfed.org\/title\/central-banking-federal-reserve-system-314\">https:\/\/fraser.stlouisfed.org\/title\/central-banking-federal-reserve-system-314<\/a><\/p>\n\n\n\n<p class=\"\">Aldrich, <em>The Causes of the Present Depression and Possible Remedies<\/em><br><a href=\"https:\/\/books.google.com\/books\/about\/The_Causes_of_the_Present_Depression_and.html?id=iijIAAAAMAAJ\">https:\/\/books.google.com\/books\/about\/The_Causes_of_the_Present_Depression_and.html?id=iijIAAAAMAAJ<\/a><\/p>\n\n\n\n<p class=\"\">Dorfman, <em>The Economic Mind in American Civilization&#8230;<\/em><br><a href=\"https:\/\/mises.org\/library\/book\/economic-mind-american-civilization-1606-1865-volume-one\">https:\/\/mises.org\/library\/book\/economic-mind-american-civilization-1606-1865-volume-one<\/a><\/p>\n\n\n\n<p class=\"\">Bernstein, <em>The Lean Years&#8230;<\/em><br><a href=\"https:\/\/archive.org\/details\/leanyearshistory0000bern_f7p8\/page\/n5\/mode\/2up\">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><br><a href=\"https:\/\/archive.org\/details\/herberthoovergre0000warr_f2d0\">https:\/\/archive.org\/details\/herberthoovergre0000warr_f2d0<\/a><\/p>\n\n\n\n<p class=\"\">Hayes, <em>Activities of the President&#8217;s Emergency Committee for Employment<\/em><br><a href=\"https:\/\/books.google.com\/books\/about\/Activities_of_the_President_s_emergency.html?id=7QHJAAAAMAAJ\">https:\/\/books.google.com\/books\/about\/Activities_of_the_President_s_emergency.html?id=7QHJAAAAMAAJ<\/a><\/p>\n\n\n\n<p class=\"\"><em>Congressional Record 75<\/em>, including January 11, 1932<br><a href=\"https:\/\/archive.org\/details\/sim_congressional-record-proceedings-and-debates_january-04-19-1932_75\/page\/1654\/mode\/2up\">https:\/\/archive.org\/details\/sim_congressional-record-proceedings-and-debates_january-04-19-1932_75\/page\/1654\/mode\/2up<\/a><\/p>\n\n\n\n<p class=\"\"><em>Monthly Labor Review <\/em>32 (1931), including p. 834<br><a href=\"https:\/\/fraser.stlouisfed.org\/title\/monthly-labor-review-6130\/april-1931-608201?page=62\">https:\/\/fraser.stlouisfed.org\/title\/monthly-labor-review-6130\/april-1931-608201?page=62<\/a><\/p>\n\n\n\n<p class=\"\">Wolman, <em>Wages in Relation to Economic Recovery<\/em><br><a href=\"https:\/\/books.google.com\/books\/about\/Wages_in_Relation_to_Economic_Recovery.html?id=Vh1QAQAAMAAJ\">https:\/\/books.google.com\/books\/about\/Wages_in_Relation_to_Economic_Recovery.html?id=Vh1QAQAAMAAJ<\/a><\/p>\n\n\n\n<p class=\"\">Angly, <em>Oh Yeah?<\/em><br><a href=\"https:\/\/books.google.com\/books\/about\/Oh_Yeah.html?id=rTWMAAAACAAJ\">https:\/\/books.google.com\/books\/about\/Oh_Yeah.html?id=rTWMAAAACAAJ<\/a><\/p>\n\n\n\n<p class=\"\"><em>Salary and Wage Policy in the Depression<\/em><br><a href=\"https:\/\/archive.org\/details\/salarywagepolicy0000unse\/page\/n3\/mode\/2up\">https:\/\/archive.org\/details\/salarywagepolicy0000unse\/page\/n3\/mode\/2up<\/a><\/p>\n\n\n\n<p class=\"\">Harrod, <em>The Life of John Maynard Keynes<\/em><br><a href=\"https:\/\/archive.org\/details\/in.ernet.dli.2015.462199\">https:\/\/archive.org\/details\/in.ernet.dli.2015.462199<\/a><\/p>\n\n\n\n<p class=\"\">(I had no luck finding any electronic resource for the very old <em>Barron&#8217;s<\/em> issues referenced in footnote 17 on page 270)<\/p>\n\n\n\n<p class=\"\">Putnam, <em>Is Wage Maintenance a Fallacy<\/em>, in <em>Journal of the American Bankers&#8217; Association<\/em><br><a href=\"https:\/\/babel.hathitrust.org\/cgi\/pt?id=mdp.39015086750646&amp;q1=putnam&amp;start=1\">https:\/\/babel.hathitrust.org\/cgi\/pt?id=mdp.39015086750646&amp;q1=putnam&amp;start=1<\/a><\/p>\n\n\n\n<p class=\"\">Divine, <em>American Immigration Policy<\/em><br><a href=\"https:\/\/archive.org\/details\/americanimmigrat0000divi\/page\/n7\/mode\/2up\">https:\/\/archive.org\/details\/americanimmigrat0000divi\/page\/n7\/mode\/2up<\/a><\/p>\n\n\n\n<p class=\"\">Abbott, <em>Public Assistance<\/em><br><a href=\"https:\/\/archive.org\/details\/publicassistance0001edit\/page\/n3\/mode\/2up\">https:\/\/archive.org\/details\/publicassistance0001edit\/page\/n3\/mode\/2up<\/a><\/p>\n\n\n\n<p class=\"\">Schlesinger, <em>The Crisis of the Old Order, 1919-1933<\/em><br><a href=\"https:\/\/archive.org\/details\/ageofrooseveltcr0000unse\/page\/n3\/mode\/2up\">https:\/\/archive.org\/details\/ageofrooseveltcr0000unse\/page\/n3\/mode\/2up<\/a><br><br>Fusfeld, The Economic Thought of Franklin D. Roosevelt <br><a href=\"https:\/\/books.google.com\/books\/about\/The_Economic_Thought_of_Franklin_D_Roose.html?id=tRZUQwAACAAJ\">https:\/\/books.google.com\/books\/about\/The_Economic_Thought_of_Franklin_D_Roose.html?id=tRZUQwAACAAJ<\/a><\/p>\n\n\n\n<p class=\"\"><em>Monthly Labor Review<\/em> 33 (1931) containing p. 1341-1342<br><a href=\"https:\/\/fraser.stlouisfed.org\/title\/monthly-labor-review-6130\/june-1931-608203?page=10\">https:\/\/fraser.stlouisfed.org\/title\/monthly-labor-review-6130\/june-1931-608203?page=10<\/a><\/p>\n\n\n\n<p class=\"\">Wendt, <em>The Role of the Federal Government in Housing<\/em><br><a href=\"https:\/\/www.huduser.gov\/portal\/sites\/default\/files\/pdf\/Federal-Government-in-Housing.pdf\">https:\/\/www.huduser.gov\/portal\/sites\/default\/files\/pdf\/Federal-Government-in-Housing.pdf<\/a><\/p>\n\n\n\n<p class=\"\">Nash, <em>Herbert Hoover and the Origins of the RFC<\/em><br><a href=\"https:\/\/www.jstor.org\/stable\/1892269\">https:\/\/www.jstor.org\/stable\/1892269<\/a><\/p>\n\n\n\n<p class=\"\"><em>Monthly Labor Review 33<\/em> (1931), containing pages 1049-1057<br><a href=\"https:\/\/fraser.stlouisfed.org\/title\/monthly-labor-review-6130\/november-1930-608195?page=9\">https:\/\/fraser.stlouisfed.org\/title\/monthly-labor-review-6130\/november-1930-608195?page=9<\/a><\/p>\n\n\n\n<p class=\"\">Frederick, <em>Readings in Economic Planning<\/em><br><a href=\"https:\/\/search.worldcat.org\/en\/title\/228876\">https:\/\/search.worldcat.org\/en\/title\/228876<\/a><br>alternate link:<br><a href=\"https:\/\/www.google.com\/books\/edition\/Readings_in_Economic_Planning\/Xo_XAAAAMAAJ?hl=en&amp;gbpv=0&amp;bsq=frederick%20%22readings%20in%20economic%20planning%22\">https:\/\/www.google.com\/books\/edition\/Readings_in_Economic_Planning\/Xo_XAAAAMAAJ?hl=en&amp;gbpv=0&amp;bsq=frederick%20%22readings%20in%20economic%20planning%22<\/a><\/p>\n\n\n\n<p class=\"\">Loth, <em>Swope of G.E.<\/em><br><a href=\"https:\/\/archive.org\/details\/swopeofgestoryof00loth\/page\/n5\/mode\/2up\">https:\/\/archive.org\/details\/swopeofgestoryof00loth\/page\/n5\/mode\/2up<\/a><\/p>\n\n\n\n<p class=\"\">Donham, <em>Business Adrift<\/em><br><a href=\"https:\/\/archive.org\/details\/businessadrift0000wall\">https:\/\/archive.org\/details\/businessadrift0000wall<\/a><\/p>\n\n\n\n<p class=\"\">Coit, <em>Mr. Baruch<\/em><br><a href=\"https:\/\/archive.org\/details\/mrbaruch00coit_0\">https:\/\/archive.org\/details\/mrbaruch00coit_0<\/a><\/p>\n\n\n\n<p class=\"\"><em>The Magazine of Wall Street<\/em> including December 14, 1929, unfortunately I could find no better link&#8230;<br><a href=\"https:\/\/www.google.com\/books\/edition\/_\/QKxLAQAAIAAJ?hl=en&amp;sa=X&amp;ved=2ahUKEwjU6OH-gd-IAxWCkO4BHXobAEIQre8FegQIAxA1\">https:\/\/www.google.com\/books\/edition\/_\/QKxLAQAAIAAJ?hl=en&amp;sa=X&amp;ved=2ahUKEwjU6OH-gd-IAxWCkO4BHXobAEIQre8FegQIAxA1<\/a><\/p>\n\n\n\n<p class=\"\">Tugwell, <em>The Democratic Roosevelt<\/em><br><a href=\"https:\/\/archive.org\/details\/democraticroosev00tugw\">https:\/\/archive.org\/details\/democraticroosev00tugw<\/a><\/p>\n\n\n\n<p class=\"\">Stocking, <em>Stabilization of the Oil Industry&#8230;<\/em><br><a href=\"https:\/\/www.jstor.org\/stable\/46\">https:\/\/www.jstor.org\/stable\/46<\/a><\/p>\n\n\n\n<p class=\"\">Watkins, <em>A Planned Economy Through Coordinated Control of Basic Industries<\/em><br><a href=\"https:\/\/www.google.com\/books\/edition\/A_Planned_Economy_Through_Coordinated_Co\/aOcyHAAACAAJ?hl=en\">https:\/\/www.google.com\/books\/edition\/A_Planned_Economy_Through_Coordinated_Co\/aOcyHAAACAAJ?hl=en<\/a><\/p>\n\n\n\n<p class=\"\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chapter ten covers the events of 1931. Basically, after massive state intervention didn&#8217;t fix the problem in 1929 or 1930, Hoover gets the great idea that more government intervention will fix the problem in 1931 and 1932&#8230; with disastrous results. Up until 1930, Hoover had (at least) resisted the swan song of massive government control [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":487,"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":[197,37,86,198,48,19,72,196,199],"class_list":["post-633","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-freedom","tag-great-depression","tag-history","tag-liberty","tag-politics","tag-rothbard","tag-study-guide"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/marginalnonhermit.com\/wp-content\/uploads\/2023\/12\/Rothbard_70s.jpg?fit=445%2C576&ssl=1","jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/marginalnonhermit.com\/index.php?rest_route=\/wp\/v2\/posts\/633","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=633"}],"version-history":[{"count":3,"href":"https:\/\/marginalnonhermit.com\/index.php?rest_route=\/wp\/v2\/posts\/633\/revisions"}],"predecessor-version":[{"id":791,"href":"https:\/\/marginalnonhermit.com\/index.php?rest_route=\/wp\/v2\/posts\/633\/revisions\/791"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/marginalnonhermit.com\/index.php?rest_route=\/wp\/v2\/media\/487"}],"wp:attachment":[{"href":"https:\/\/marginalnonhermit.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=633"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/marginalnonhermit.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=633"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/marginalnonhermit.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=633"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}