Hoover, Bush, And Great Depressions (Report)
The Quarterly Journal of Austrian Economics 2010, Fall, 13, 3
The Quarterly Journal of Austrian Economics
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INTRODUCTION The most basic rule of economic policy is to allow prices to adjust to market conditions. This maintains Say's Law and produces what Bastiat called economic harmony. Furthermore, unhampered markets also minimize distortions and disruptions introduced by external forces. Most importantly, the unhampered price system minimizes the impact of the business cycle on the economy. This paper examines two historical episodes in which interventionist policies turned business cycle corrections into depressions. (1)
- Category: Finance
- Published: Sep 22, 2010
- Publisher: Ludwig von Mises Institute
- Seller: The Gale Group, Inc.
- Print Length: 21 Pages
- Language: English