Great Myths of the Great Depression
Revised September 2005
Students today are often given a skewed account of the Great Depression of 1929-1941 that condemns free-market capitalism as the cause of, and promotes government intervention as the solution to, the economic hardships of the era. In this essay based on a popular lecture, Mackinac Center for Public Policy President Lawrence Reed debunks the conventional view and traces the central role that poor government policy played in fostering this legendary catastrophe.
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