Great Myths of the Great Depression PDF ✓ Great

Great Myths of the Great Depression [PDF / EPUB] Great Myths of the Great Depression Students today are often given a skewed account of the Great Depression of 1921 1941 that condemns free market capitalism as the cause of and promotes government intervention as the solution to the ec Students today are of the PDF/EPUB Â often given a skewed account of the Great Depression of that condemns free market capitalism as the cause of Great Myths PDF or and promotes government intervention as the solution to the economic hardships of the era In this essay based on a popular lecture Foundation for Economic Myths of the MOBI ☆ Education President Lawrence W Reed debunks this conventional view and traces the central role that poor government policy played in fostering this legendary catastrophe Lawrence W Larry Reed became president of the Foundation for Economic Education FEE in Prior to becoming FEE's president he served for twenty years as president of the Mackinac Center for Public Policy in Midland Michigan He also taught economics full time from to at Northwood University in Michigan and chaired its Department of Economics from to A champion for liberty Reed has authored over newspaper columns and articles dozens of articles in magazines and journals in the United States and abroad The Foundation for Economic Education FEE is the premier source for understanding the humane values of a free society and the economic legal and ethical principles that make it possible At FEE you’ll be connected with people worldwide who share those values and are inspired by the dynamic ideas of free association free markets and a diverse civil society Explore freedom’s limitless possibilities through seminars classroom resources social media and daily content at FEEorg Learn how your creativity and initiative can result in a prosperous and flourishing life for yourself and the global community Whether you are just beginning to explore entrepreneurship economics or creating value for others or are mentoring others on their journeys FEE has everything you need FEE is supported by voluntary tax deductible contributions from individuals foundations and businesses who believe that it is vital to cultivate a deep appreciation in every generation for individual liberty personal character and a free economy Supporters  receive a subscription to FEE's flagship magazine the Freeman also available at FEEorg.

  • Paperback
  • 20 pages
  • Great Myths of the Great Depression
  • Lawrence W. Reed
  • 05 June 2015

About the Author: Lawrence W. Reed

Lawrence W Reed of the PDF/EPUB Â is the president of the Foundation for Economic Education FEE and the author or editor of several books including Excuse Me Great Myths PDF or Professor Challenging the Myths of Progressivism Before joining FEE he served as president of the Mackinac Center for Public Policy in Midland Michigan and chaired Myths of the MOBI ☆ Northwood University’s department of economics Reed has written some articles f.

10 thoughts on “Great Myths of the Great Depression

  1. says:

    This is a long pamphlet or a very short book It’s a product of the Mackinac Center and the Foundation for Economic Freedom probably because the author used to be president of the former and is currently president at least at the time of publication of this pamphlet of the latter It’s a summary of the then nascent and now growing thesis that President Hoover’s and President Roosevelt’s government interventions not only prolonged the Great Depression but made it far worseHoover’s infamous Smoot Hawley Tariff was his administration’s “crowning folly” but he also used the power of the White House outside of the legislative process to implement wage controls and provided billions in subsidies to farmers and to businesses Somewhat insane during a period when his administration claimed that people weren’t buying enough he even taxed writing checks Hoover’s follies culminated in the Revenue Act of 1932 which raised taxes on everybody through income tax increases the top rate went from 24% to 63% corporate taxes estate taxes gift taxes gasoline taxes auto taxes and even an increase in postal ratesRoosevelt excoriated Hoover for these ridiculously bad policiesDuring the campaign Roosevelt blasted Hoover for spending and taxing too much boosting the national debt choking off trade and putting millions on the dole He accused the president of “reckless and extravagant” spending of thinking “that we ought to center control of everything in Washington as rapidly as possible” and of presiding over “the greatest spending administration in peacetime in all of history” Roosevelt’s running mate John Nance Garner charged that Hoover was “leading the country down the path of socialism”Roosevelt even called for a 25% reduction in government spending a balanced federal budget a return to the gold standard and an end to the various subsidies including farm subsidiesTrying the same failed policies but harder even after railing against them is unfortunately a common political tactic and certainly appears to have been Roosevelt’s Everything Hoover did to worsen the depression Roosevelt did on a grander scaleIn the world of economics and free exchange the rule is that you get what you pay for The 1932 election is perhaps the best example of the rule that prevails all too often in the political world You get what you voted againstContrary to his campaign promises Roosevelt dismantled the gold standard vastly increased spending and cemented Hoover’s wage controls freezing those most hurt by the depression completely out of work To farm subsidies he also added the destruction of much needed crops and herds And organized industries into “government mandated cartels” under the National Recovery AdministrationThrough the whole of the NRA period industrial production did not rise as high as it had been in July 1933 before NRA came inAnd of course he also raised rather than lowered taxes with some brackets going as high as 90% and suggested that they ought to go to a hundredThe candidate who had railed against reliance on “master minds” in government became a president who created “an astonishing rabble of impudent nobodies” in HL Mencken’s words to run a plethora of alphabet agencies to run every part of American life

  2. says:

    This is definitely a must read this little book shows the genesis of the Great Depression emphasizing as central planners fail at monetary policy It uncovers countless frauds and lies so we can realize how the historical manipulation was made Very informativeFinal memorable uote“Government is the only institution that can take a valuable commodity like paper and make it worthless by applying ink” Ludwig von Mises

  3. says:

    Interesting uoteOf two men walking down the street at the start of 1933 one with a gold coin in his pocket and the other with a bottle of whiskey in his coat the man with the coin would be an upstanding citizen and the man with the whiskey would be the outlaw A year later precisely the reverse was true Lawrence W Reed Great Myths of the Great Depression

  4. says:

    An aphoristic essay which repudiates the tiresome myths of the American economy of the 1930s Serious historians and scholars hold a consensus with the way the events are portrayed here Reed uotes a number of prominent economists historians and journalists of the past and present including Milton Friedman Murray Rothbard Ludwig von Mises Robert Higgs H L Mencken John T Flynn Thomas DiLorenzo Jim Powell et al While it obviously cannot expound on the entirety of the Great Depression in its laconic presentation this essay offers plenty of main concepts and factoids to explore further in other works Reading this will give you a great overview of what went wrong in the early 20th century how we continue to make similar mistakes and how we could possibly avoid them

  5. says:

    A must read for all to hear an alternate view on what happened during the Great Depression and what lessons there may be in the governmental and societal response then for us today We find ourselves in a similar situation and the majority of voters appear to believe that we or our government can spend our way out of it As Mr Reed uotes at the end of this short piece 'Everyone has heard the sage observation of philosopher George SantayanaThose who cannot remember the past are condemned to repeat it It's a warning we should not fail to heed' All current indications are that enough are failing to heed this warning

  6. says:

    Outstanding book exposing the root causes of the Great Depression and uncovering the wormy frauds and deceptions beneath the stones of lies laid before us in secondary education The lionization of FDR that has always been presented to us is properly uestioned in this short work Reed effectively makes his case with historical examples and anecdotes illuminating very effectively the politicians and the legislative bungling that only sped up the long monetary death march My only complaint is that it was only about 40 pages long Certainly a wonderful overview and worth the read for anyone interested in the subject

  7. says:

    Must read short but to the pointCommon knowledge is often wrong and those who control the mic often form it It is up to each and every one of us to learn not what common knowledge tells us but what actually happened Napoleon wasn’t short carrots don’t give supper vision and FDR didn’t help America to get out of the depression

  8. says:

    Outstanding overview of the Great Depression how Hoover made bad decisions and how FDR made it even worse Exposes the abusive and illegal actions taken by FDR Explains why the depression should have lasted only 2 years but FDR made it last almost 12 years

  9. says:

    Excellent Could have easily read another 200 pages

  10. says:

    Excellent short book on the Great Depression Perfect starting point for anyone interested in this devastating period in American history

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