For a long time, nobody wanted to discuss the Depression of 1920-21, since it reversed itself without fiscal or monetary stimulus. But after a few other scholars and I started making hay with this example, Keynesian critics crawled out of the woodwork. My guest today responds, and vindicates our view.

About the Guest

Patrick Newman is a professor of economics at Florida Gulf Coast University.

Special Offer

Through December 30 only: save $150 on a Master membership to my LibertyClassroom.com, where you can learn the history and economics they didn’t teach you. Plus, a huge bonus….

Paper Discussed

“The Depression of 1920-1921: A Credit Induced Boom and a Market Based Recovery?,” by Patrick Newman

Previous Appearance

Ep. 418 The Truth About One of Those Pre-Fed Depressions

Related Episode

Ep. 282 Jim Grant on the Forgotten Depression (Jim Grant)

Free Resources!

1) Free eBook on how to start your blog or website. Click here to get it. Plus, check out my step-by-step video taking you from no blog to a blog in about five minutes!

2) Free publicity for your blog. As a special thanks if you get your hosting through one of my affiliate links (this one for Bluehost, or this one for WP Engine), I’ll boost your blog. Click here for details.

3) Free History Course: The U.S. Presidents — Politically Incorrect Edition. Get access to this 22-lesson course: 22 videos, 22 mp3 files for listening on the go, and a bibliography of reliable books on the presidents. Click here!.

4) $160 in Free Bonuses. Free signed copy of my New York Times bestseller The Politically Incorrect Guide to American History, plus a free 10-lesson bonus course on the foundations of liberty, plus a free year’s subscription to LibertyClassroom.com, when you subscribe to the Ron Paul Curriculum site through RonPaulHomeschool.com.