Index

Economic Depressions: Their Cause and CureIndex47

Business cycleFederal Reserve System,

Austrian, 29, 30, 4327, 41, 42

Keynesian, 9G

Gold standard, 21, 22, 23,

Marx, 1324, 25, 26, 28, 41

Ricardian, 21, 28, 29Great Depression

CSee Depression

Central Bank, 27, 28HCoolidge, Calvin, 41, 42Hayek, F.A.

D Monetary Theory and

Depressionthe Trade Cycle, as a period of and Prices and adjustment, 28, 29, 36, Production, 3039, 40 proponent of defi nition of, 8Austrian business cycle, 30following credit expansion, 37, 38, 41 Hoover, Herbert, 41, 42

Great Depression, 40, 43Hume, David, 20length and depth of, 25I

Industrial Revolution, 13price level during, 29

Infl ationprolonged by wage and price rigidity, 39 causes of, 9theory of, 9, 29, 30effects of, 22

Eoverspending in

Entrepreneurship, 16Keynesian analysis, 9

47

48 Economic Depressions: Their Cause and Cure solutions to, 29on the Great squelched in a Depression, 40competitive banking Theory of Money and industry, 26Credit, 29 Interest rate N

New Deal, 42 allocation of resources,

Nixon, Richard, 10

38

Pmanipulation, 31–35Pricesnatural, or real, 31–32, general level of, 14

37relative, 25

K

Keynes, John Maynardstabilization, 9

General Theory of Price theory, 14

Employment, Interest, Productionand Money, 9 time element in, 16government intervention Rin the economy, 10 Recession, 8, 9, 10, 17, 38

Keynesianism, 9, 43, 44Ricardo, David, 20Keynesian revolution, 44Roosevelt, Franklin

LDelano, 42Laissez-faire policy, 40, S

41, 43Socialism, 12

MTMarx, Karl, 13Time preference, 31, 34

McCracken, Paul, 10, 11U

Unemployment, 11, 39, 42

Mises, Ludwig von, 29, W

30, 31, 38, 42, 43, 44, 45Wages on business cycles, 29 government manip—on government ulation of, 33, 39intervention during increasing as a result of economic crises, 40credit infl ation, 33, 42