http://mises.org/podcasts/economic-depressions-their-cause-and-cure"Banks would never be able to expand credit in concert were it not for the intervention and encouragement of government," writes Murray Rothbard.This audio book edition is narrated by Harold Fritsche. Music by Kevin MacLeod.enMurray N. RothbardSerialnohttps://cdn.mises.org/Economic%20Depressions_900.jpghttp://mises.orgMises Institutemisesmedia@gmail.comhttp://mises.org/podcasts/economic-depressions-their-cause-and-cure/economic-depressions-their-cause-and-cureMurray N. RothbardSun, 29 May 2005 05:15:58 -0500145721The clearest short statement of the Austrian theory of the business cycle ever written. In this classic essay, Murray Rothbard asks the question every theory of depressions has to answer: Why does a whole economy of shrewd entrepreneurs suddenly suffer a cluster of losses at once? He traces the answer to government and central-bank credit expansion, which pushes interest rates below their natural level and lures business into investments that real savings can't sustain. The bust that follows isn't capitalism failing; it's the market healing. And the only cure, Rothbard argues, is the one thing governments refuse to try: nothing.

]]>noBooms and Busts, Business Cycles, Interventionism1