(VIDEO) Ron Paul on Rothbard and the Great Depression

[sailingaway]

h/t: http://nalert.blogspot.com/2013/01/ron-paul-on-rothbard-and-great.html

 

[BSU kid]

Nice Share, Thank You.

 

[unknown]

My God, hes dropping knowledge like a Professor of history or economics.

So I thought, hey let me buy this book. But first let me see if anyone on here has read it:

http://www.amazon.com/Americas-Grea...sr=8-1&keywords=the+american+great+depression

So I start to read the reviews. I always look at the lowest ratings first. Apparently the print, font, editing, alignment, footnotes etc are way off. I guess I'll look to buy from a different publisher.

Next, I see the longest review I have ever seen. Friggin massive. I look down to see that it has 67 replies. I start going through the replies and see this:

Thomas E. Woods Jr. says:

Folks, do not let this extremely confused review dissuade you from reading this very important book. This poor soul does not even understand the epistemological point Rothbard was making, which is that merely staring at statistics cannot yield explanations for economic phenomena. No list of statistics, however thorough, can possibly establish necessary relationships between economic phenomena. That was all Rothbard was saying. That doesn't mean Rothbard's economics is "fact-free," a moronic assertion to say the least.

A lot of the other criticisms in this review are answered in this article by Prof. Joseph Salerno: http://www.fee.org/publications/the-freeman/article.asp?aid=4942. Prof. Salerno also takes the wind out of the sails of Friedman's view of the Great Depression: http://mises.org/story/1583

F.A. Hayek won the Nobel Prize for the theory of depressions set forth by Rothbard in this book. Read it for yourself, and discover its tremendous explanatory power.