这根本不是什么新鲜事。实际上相当容易论证。我推荐穆瑞·罗斯巴德（Murray Rothbard）1963 年出版的《美国大萧条》（America's Great Depression）[0]。核心逻辑一言以蔽之：A. 美国的货币政策为大银行提供了极度廉价的资本 B. 在自由市场中相互竞争的大银行必须把这些资本利用起来……
It's not new at all. It's actually fairly easy to demonstrate. I recommend Murray Rothbard's America's Great Depression[0] from 1963. The quick hit is this: A. US Monetary policy provides large banks with extremely cheap capital B. Large banks competing with each other in the free market must make use of that capital…
……而不是生产力提高的结果。亨利·福特大概是这一阵营中最有影响力的人物，但当时大多数美国企业界也都认同这点。穆瑞·罗斯巴德的《美国大萧条》（America's Great Depression）对胡佛那些早期雏形阶段的“新政”政策做出了大概是最好的分析。如果你跟我以前一样，被教导说大萧条肆虐全国时胡佛什么都没做，那这本书会非常启发人心。
…and not the effect of greater productivity. Henry Ford was probably the most influential person in this camp but most of American business at the time was on board with it as well. Murray Rothbard's "America's Great Depression" has probably the best analysis of Hoover's proto "New Deal" policies. It's very enlightening if you were taught as I was that Hoover did nothing while the depression ravaged the nation.
Read some DeSoto and Rothbard ( Money, Credit and Economy - http://mises.org/resources/2745, America's Great Depression http://mises.org/rothbard/agd.pdf and History of Money and Banking -http://mises.org/books/historyofmoney.pdf ). They both make a pretty compelling case that government played a major role in the 19th…
我读过。加尔布雷斯写的历史还行，文笔也挺有趣，但他做的经济学分析有致命缺陷。我推荐罗斯巴德的《美国大萧条》（America's Great Depression），书中对市场崩盘演变为大萧条背后的因果机制给出了扎实的经济学分析。这本书在网上有免费 PDF：https://mises.org/library/americas-great-depression
I've read it. Galbraith's history is ok and his writing is entertaining but his economic analysis is terribly flawed. I recommend Rothbard's America's Great Depression for a solid economic analysis of the causalities involved in taking a market crash and turning it into a depression. The book is available in pdf free online: https://mises.org/library/americas-great-depression
…prop up commodity prices while starving, out of work people looked on in horror. If prices had been allowed to fall, wage rates could have come down to a price where hiring made sense. Read Rothbard's "America's Great Depression" for a good overview of the case against macro-economics and deflationary interventionism.
这根本不是什么新鲜事。实际上相当容易论证。我推荐穆瑞·罗斯巴德（Murray Rothbard）1963 年出版的《美国大萧条》（America's Great Depression）[0]。核心逻辑一言以蔽之：A. 美国的货币政策为大银行提供了极度廉价的资本 B. 在自由市场中相互竞争的大银行必须把这些资本利用起来……
It's not new at all. It's actually fairly easy to demonstrate. I recommend Murray Rothbard's America's Great Depression[0] from 1963. The quick hit is this: A. US Monetary policy provides large banks with extremely cheap capital B. Large banks competing with each other in the free market must make use of that capital…
……而不是生产力提高的结果。亨利·福特大概是这一阵营中最有影响力的人物，但当时大多数美国企业界也都认同这点。穆瑞·罗斯巴德的《美国大萧条》（America's Great Depression）对胡佛那些早期雏形阶段的“新政”政策做出了大概是最好的分析。如果你跟我以前一样，被教导说大萧条肆虐全国时胡佛什么都没做，那这本书会非常启发人心。
…and not the effect of greater productivity. Henry Ford was probably the most influential person in this camp but most of American business at the time was on board with it as well. Murray Rothbard's "America's Great Depression" has probably the best analysis of Hoover's proto "New Deal" policies. It's very enlightening if you were taught as I was that Hoover did nothing while the depression ravaged the nation.
读读德索托（DeSoto）和罗斯巴德的作品吧（《货币、银行信用与经济危机》——http://mises.org/resources/2745，《美国大萧条》http://mises.org/rothbard/agd.pdf 以及《美国的货币与银行业历史》——http://mises.org/books/historyofmoney.pdf）。他们都提出了相当有说服力的论据，证明政府在 19 世纪扮演了主要角色……
Read some DeSoto and Rothbard ( Money, Credit and Economy - http://mises.org/resources/2745, America's Great Depression http://mises.org/rothbard/agd.pdf and History of Money and Banking -http://mises.org/books/historyofmoney.pdf ). They both make a pretty compelling case that government played a major role in the 19th…
我读过。加尔布雷斯写的历史还行，文笔也挺有趣，但他做的经济学分析有致命缺陷。我推荐罗斯巴德的《美国大萧条》（America's Great Depression），书中对市场崩盘演变为大萧条背后的因果机制给出了扎实的经济学分析。这本书在网上有免费 PDF：https://mises.org/library/americas-great-depression
I've read it. Galbraith's history is ok and his writing is entertaining but his economic analysis is terribly flawed. I recommend Rothbard's America's Great Depression for a solid economic analysis of the causalities involved in taking a market crash and turning it into a depression. The book is available in pdf free online: https://mises.org/library/americas-great-depression
你得补补阅读功课了。《美国大萧条》（America's Great Depression）http://mises.org/rothbard/agd.pdf
you've got some reading to do. America's Great Depression http://mises.org/rothbard/agd.pdf
……去托住大宗商品价格，而饥寒交迫、失去工作的人们只能惊恐地看着。如果放任物价下跌，工资水平本来可以降到一个让雇主愿意招人的合理价格。读读罗斯巴德的《美国大萧条》，能很好地概览反对宏观经济学和通缩干预主义的论据。
…prop up commodity prices while starving, out of work people looked on in horror. If prices had been allowed to fall, wage rates could have come down to a price where hiring made sense. Read Rothbard's "America's Great Depression" for a good overview of the case against macro-economics and deflationary interventionism.