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The Great Depression

The Great Depression was a global economic downturn that endured from 1929 to 1941. The initial downturn began soon after central banks tightened the money supply in 1928. As national governments increased their central banks’ gold stock, an international gold deflation depressed prices and increased economic volatility. After the initial dip, the economy remained sluggish as central banks continued to enact inflationary monetary policy and governments expanded expenditures and regulations. The unpredictability of these policies discouraged entrepreneurial activity and prolonged the Great Depression.

 

Cato Institute: Amity Shlaes - A New History of the Great Depression

 

Future of Freedom Foundation: Lawrence Reed - Lessons from the Great Depression

Related Publications

ARTICLE

The Great Depression

MARCH 05, 2009

With a slumping economy and a President committed to Keynesian economics, the Great Depression has become a topic on top of the public's mind. Indeed, now more than ever it is imperative to understand the truth about the Depression and how we can avoid another one. This special feature includes a selection of articles and books on the subject.

ARTICLE

Rome and the Great Depression

FEBRUARY 24, 2009 by LAWRENCE W. REED

Commentators on the present financial crisis have noted some interesting parallels to the Great Depression of the 1930s. But more ominous parallels to an earlier age should not escape our notice.

Related Freeman Articles

BOOK REVIEW

FDR's Folly: How Roosevelt and His New Deal Prolonged the Great Depression

Why Did New Deal Spending Fail to Lift the American Economy?

JULY 06, 2010 by BURTON FOLSOM

Related Multimedia

MULTIMEDIA - VIDEO

FDR and the Great Depression

MARCH 22, 2011

MULTIMEDIA - VIDEO

Hans Sennholz on the Great Depression, Part 2

FEBRUARY 01, 2010

This is part 2 of a lecture given by Han Sennholz at FEE on February 29, 1988. In it, Sennholz discusses the widespread historical misunderstanding of the Great Depression.

MULTIMEDIA - AUDIO

Hans Sennholz on The Great Depression, Part 1

JANUARY 27, 2010

This is video from FEE's archive is of Hans F. Sennholz lecturing to students about the Great Depression on February 29, 1988. Sennholz covers the history of the era and how government intrusion into the economy is ultimately to blame for the disaster.

MULTIMEDIA - VIDEO

Economic Liberty Lecture Series: Great Depression

NOVEMBER 06, 2009

ONLINE EVENTS

FEE offers live online events for people new to the economic, ethical, and legal principles of a free society.

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July/August 2014

The United States' corporate tax burden is the highest in the world, but innovators will always find a way to duck away from Uncle Sam's reach. Doug Bandow explains how those with the means are renouncing their citizenship in increasing numbers, while J. Dayne Girard describes the innovative use of freeports to shield wealth from the myriad taxes and duties imposed on it as it moves around the world. Of course the politicians brand all of these people unpatriotic, hoping you won't think too hard about the difference between the usual crony-capitalist suspects and the global creative elite that have done so much to improve our lives. In a special tech section, Joseph Diedrich, Thomas Bogle, and Matthew McCaffrey look at various ways these innovators add value to our lives--even in ways they probably never expected.
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