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The Government’s Role in the Great Depression

George Selgin

Presented at: OCON 2016

Date: Jul 01, 2016

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.


Parts: 1

Handout: none