Murray Rothbard was the master of reducing complicated theories to their very essence while retaining theoretical rigor, and Economic Depressions: Their Cause and Cure is a case in point. It is thrilling how Rothbard is able to present the theory of business cycles in such an easy-to-digest format.
Written in 1969, now, more than 40 years later, its explanatory power and its relevance have not diminished in the least. This speaks to an aspect of the Austrian theory that other theories simply can't boast. It is a real theory that applies across time and place; its persuasiveness is not contingent on the particulars of any individual boom-bust cycle.
You will not only learn from Rothbard in this book; it is also the perfect item to pass on to others who are wondering how we ended up in the present economic crisis — and how we are ever going to get true, lasting relief.
