Автор: Murray N. Rothbard
Название:America's Great Depression
Издательство:BN Publishing
Год:2009
Кол-во страниц: 374
Формат: Pdf
Размер: 28 MB
Язык: Английский

Rothbard opens with a theoretical treatment of business cycle theory, showing how an expansive monetary policy generates imbalances between investment and consumption. He proceeds to examine the Fed's policies of the 1920s, demonstrating that it was quite inflationary even if the effects did not show up in the price of goods and services. He showed that the stock market correction was merely one symptom of the investment boom that led inevitably to a bust.