By George Selgin
Instead of being proof of the inherent instability of capitalism, as is often claimed, the Great Depression was largely the result of mistaken government policies, including misguided attempts to “economize” on gold, policies aimed at keeping wage rates from declining, and Treasury’s sterilization of gold inflows. The combined effects of these and other policies sufficed to account for the downturns of the early and later 1930s.
This talk was recorded at the Objectivist Summer Conference 2016 in Seattle, WA.
(MP3 download; 56.60 MB)