Sunday, September 30, 2012

Great Depression Myths

ZeroHedge has a post explaining the Great Depression.

They have also posted the 28-page Myths of the Great Depression report by Lawrence W. Reed.

Our take-away was the explanation that the Great Depression was actually 4 consecutive downturns, not just a single collapse. 

The four downturns, with Wikipedia links:

1. Monetary Policy and the Business Cycle.  See the Wall Street Crash of 1929.
2. The Disintegration of the World Economy. See Smoot-Hawley Tariff.
3. The New Deal.
4. The National Labor Relations Act (NLRA), or the Wagner Act.

Go there to read more.  They posted a video there too.

No comments: