BEGINNER

Depression

FEBRUARY 24, 2013

Broadly, a downturn in the economy where real (inflation adjusted) income shrinks. Depressions are commonly observed at the national level. Some major causes of depressions include misallocation of capital, increased uncertainty, and supply shocks.

Ben Powell - The Great Boom and Bust

 

Paul Cwik - Austrian Theory of the Business Cycle

Related Freeman Articles

OUR ECONOMIC PAST

Are We Looking at the Wrong Depression?

FEBRUARY 22, 2012 by STEPHEN DAVIES

ARTICLE

Cause, Effect, and the Current Depression

Sorting it out.

AUGUST 11, 2010 by WILLIAM L. ANDERSON

All too often people confuse cause and effect.

ARTICLE

The Great Depression According to Milton Friedman

The Great Depression Could Have Been Avoided if the Fed Had Not So Badly Botched Its Monetary Policy

SEPTEMBER 01, 2007 by IVAN PONGRACIC JR.

OUR ECONOMIC PAST

The Great Contraction, 1929–33

New Ideas about Government Intervention in Recessions Worsened the Great Depression

APRIL 01, 2007 by ROBERT HIGGS

ONLINE EVENTS

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

CURRENT ISSUE

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.
Download Free PDF

PAST ISSUES

SUBSCRIBE

RENEW YOUR SUBSCRIPTION

img E-mail Subscription

VIEW PRIVACY POLICY