Rothbard's "America's Great Depression," Chapter Three, Part Two

We're finishing up part one of the book, and this should be the end of the heavy lifting economic theory! Today we're covering the "dearth of investment opportunities" theory, Schumpeter's business cycle theory, qualitative credit doctrines, and overoptimism/overpessimism theories.

For show notes, visit https://marginalnonhermit.com/?p=553

I've got a bunch of references for you, so here goes:

Hansen's paper "Economic Progress and Declining Population Growth" https://scholar.google.com/scholar?hl=en&as_sdt=0%2C32&q=alvin+h+hansen+economic+progress+declining+population+growth&btnG=

George Terborgh's book "The Bogey of Economic Maturity" https://archive.org/details/bogeyofeconomicm0000terb/mode/2up

Hansen's book "Economic Policy and Full Employment," specifically Appendix B, his response to Terborgh https://archive.org/details/in.ernet.dli.2015.189427/page/n307/mode/2up

Jeff Herbener's talk on how prices propagate through the economy in Austrian and other economic theories https://youtu.be/7yZFlRXJdGg

Schumpeter's book "The Theory of Economic Development" https://archive.org/details/theoryofeconomic0000schu/page/n7/mode/2up

Schumpeter's book "Business Cycles" https://archive.org/details/businesscyclesth0000schu

Clemence and Doody's defense of Schumpeter's work https://archive.org/details/schumpeteriansys0000clem/page/n5/mode/2up

Carolyn Shaw Solo's critique of Schumpeter (paywalled) https://academic.oup.com/qje/article-abstract/65/3/417/1835085

Simon Kuznets's criticism of Schumpeter https://scholar.google.com/scholar?hl=en&as_sdt=0%2C32&q=kuznets+schumpeter%27s+business+cycles&btnG=

Fritz Machlup's book "The Stock Market, Credit, and Capital Formation," containing a discussion of qualitative credit theories https://archive.org/details/bub_gb_LjeLzbc9GiYC

A definition and description of self-liquidating loans https://www.investopedia.com/terms/s/self-liquidating-loan.asp

Bassie's paper "Recent Developments in Short-Term Forecasting" https://www.nber.org/system/files/chapters/c2900/c2900.pdf