Has anyone noticed how something major occurs every 70-80 years in the US? The last Great Depression occurred roughly 70-80 years ago, and the Civil war occurred 70-80 years before that. In addition, 70-80 before that we had the american revolution. Has anyone noticed this? Does anyone think this is a cycle, more or less?
- Ross
agreed with Kaz here. Except if I recall correctly, the so-called "Long Depression" turned out to be pretty good. Prices were falling but there was economic growth. This was addressed by Tom Woods in one of his presentations(unfortunately, i forgot the title of it), and i think i've seen addresssed somewhere else as well. Does anyone know which presentation it was where Tom Woods talked about this?
I disagree with Woods on this, taking more of an Austrian approach than his Rothbardian approach.
He defends the period more because it starts precisely with the imposition of the gold standard by force, and Rothbardians see this as somehow good. He abandons the Rothbardian obsession with opposing all attempts to measure economic activity objectively, when those metrics can be twisted to support his position, as the Rothbardians tend to do...if we use his unprincipled change in standard, then Rothbard was wrong about the cause of the Great Depression, wherein he refuses to consider the price stability of the 1920s that proves there wasn't an inflationary boom before the bust.
Yes, I have. Why I'm back in Mises looking is with respect to the