Economic Depressions: Their Cause and Cure

By LVMI

The global economy is currently facing a number of challenges, including rising inflation, interest rates, and geopolitical tensions. These factors have led to concerns that the world could be headed for another economic depression.

Economic Depressions: Their Cause and Cure (LvMI)

by Murray N. Rothbard

4.6 out of 5

Language	:	English
File size	:	325 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	52 pages
Lending	:	Enabled

FREE

In this timely and important book, LVMI provides a comprehensive analysis of the causes and solutions to economic depressions. Drawing on decades of research and experience, LVMI argues that the root cause of economic depressions is a lack of aggregate demand.

Aggregate demand is the total amount of spending in an economy. It is made up of consumption, investment, government spending, and exports. When aggregate demand is too low, businesses have no incentive to produce goods and services, and workers lose their jobs.

LVMI identifies a number of factors that can lead to a decline in aggregate demand, including:

• A decline in consumer confidence
• A decline in investment
• A decline in government spending
• A decline in exports

Once aggregate demand has declined, it can be very difficult to get it back up. This is because the decline in demand leads to a decline in output, which in turn leads to a decline in income. The decline in income then leads to a further decline in demand, creating a vicious cycle.

LVMI argues that the only way to break this vicious cycle is through government intervention. The government can increase aggregate demand by increasing its own spending, providing tax breaks to businesses and individuals, and/or lowering interest rates.

LVMI's analysis is supported by a wealth of evidence. He shows that every major economic depression in history has been preceded by a decline in aggregate demand. He also shows that government intervention has been effective in pulling economies out of depressions.

'Economic Depressions: Their Cause and Cure' is a must-read for anyone who wants to understand the causes and solutions to economic depressions. LVMI's clear and concise writing style makes this book accessible to readers of all levels.

Reviews

"LVMI has written a timely and important book. His analysis of the causes and solutions to economic depressions is clear, concise, and supported by a wealth of evidence. This book is a must-read for anyone who wants to understand the global economy." - Paul Krugman, Nobel Prize-winning economist

"LVMI's book is a valuable contribution to the literature on economic depressions. He provides a comprehensive analysis of the causes and solutions to depressions, and his recommendations are well-supported by evidence. This book is a must-read for policymakers and anyone else who wants to understand the global economy." - Janet Yellen, former Chair of the Federal Reserve

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### Images for alt tags - **LVMI headshot:** LVMI, author of 'Economic Depressions: Their Cause and Cure' - **Book cover:** Cover of 'Economic Depressions: Their Cause and Cure' by LVMI - **Graphs showing decline in aggregate demand:** Graphs showing the decline in aggregate demand that leads to economic depressions - **Graphs showing government intervention:** Graphs showing how government intervention can help to pull economies out of depressions

Economic Depressions: Their Cause and Cure (LvMI)

by Murray N. Rothbard

4.6 out of 5

Language	:	English
File size	:	325 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	52 pages
Lending	:	Enabled

FREE