Economic Depressions: Their Cause & Cure

By Murray N. Rothbard

Synopsis: This little booklet explains the Austrian theory of the business cycle, what causes economic booms and busts, and what can be done about them to legitimately cure the problem of economic depressions. 

Strong Points: This short booklet is a quality work because it was written by Murray Rothbard, one of the great minds of the Austrian school. It is an excellent idea for a booklet, as it provides a concise explanation of the major theory of the Austrian school, and which is readable in one sitting. The Austrian theory of the business cycle is so pivotal that it definitely deserves its own treatment in a work such as this. Rothbard was a clear writer, which made him a good candidate to write such a work. It is a good give-away booklet to educate friends and acquaintances who erroneously ascribe the boom-bust cycle to some mysterious and inherent fault of the capitalist system. Also, it's easy to share because it's available for free in PDF format online.

Weak Points: The booklet is just so long that anyone not terribly interested would probably not finish reading it. Also, while Rothbard is a great writer with a lucid style, there are moments where the technical details seem fairly heavy anyway.

Interesting: 3.9/5

Must Read: 4/5

Overall: 4.3/5

Selected Quote: "So now we see, at last, that the business cycle is brought about, not by any mysterious failings of the free market economy, but quite the opposite: By systematic intervention by government in the market process." (p. 28).

 
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