The Panic of 1819: Reactions and Policies

The Panic of 1819: Reactions and Policies Murray N. Rothbard
  • Title: The Panic of 1819: Reactions and Policies
  • Author: Murray N. Rothbard
  • ISBN: 9781933550084
  • Page: 414
  • Format: Hardcover
  • The Panic of 1819: Reactions and Policies Murray N. Rothbard The Panic of Reactions and Policies The Panic of was America s first great economic crisis And this is Rothbard s masterful account the first full scholarly book on the topic and still the most definitive It was his dissertation
    The Panic of 1819 was America s first great economic crisis And this is Rothbard s masterful account, the first full scholarly book on the topic and still the most definitive It was his dissertation, published in 1962 but nearly impossible to get until this new edition, the first with the high production values associated with Mises Institute publications The AmericanThe Panic of 1819 was America s first great economic crisis And this is Rothbard s masterful account, the first full scholarly book on the topic and still the most definitive It was his dissertation, published in 1962 but nearly impossible to get until this new edition, the first with the high production values associated with Mises Institute publications The American Economic Review was wild for this book when it appeared Rothbard s work represents the only published, book length, academic treatise on the remedies that were proposed, debated, and enacted in attempts to copy with the crisis of 1819, the reviewer wrote As such, the book should certainly find a place on the shelf of the study of U.S business cycles and of the economic historian who is interested in the early economic development of the United States And specialists have treasured the book for years It is incredible to realized that some American historians think of MN Rothbard as the author of this book and nothing else Rothbard tells the story about a disaster that could not be attributed to some specific government blunder or disaster It seemed to originate from within the economic system itself Its cause was not obvious to observers at the time Confronted with something new, the Panic engendered much discussion and debate about possible causes and remedies As Rothbard observes, the panic provides an instructive picture of a people coming to grips with the problems of a business depression, problems which, in modified forms, were to plague Americans until the present day There were many cranky and contradictory remedies proposed, and Rothbard reviews each one But in the end, there was no widespread confusion on what caused the downturn Instead, it was widely known that a false prosperity is a very dangerous thing It always turns to bust Bad legislation failed to pass, the government embarked on no New Deal planning, and there was no great reflat
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      Murray N. Rothbard

    About Murray N. Rothbard


    1. Murray Newton Rothbard was an influential American historian, natural law theorist and economist of the Austrian School who helped define modern libertarianism Rothbard took the Austrian School s emphasis on spontaneous order and condemnation of central planning to an individualist anarchist conclusion, which he termed anarcho capitalism.


    195 Comments


    1. Another Rothbard classic.Rothbard goes through great lengths to explain the economic climate of the states at the time in order to provide a background for the panic He shows how extensive borrowing before 1819 was and that this was indeed the source of the panic The 1819 bubble was close in kin to the real estate bubble in the early 90 s speculators saw a great opportunity to buy land as its value had been rising for quite a while These speculators saw to it to buy as much as they could with mo [...]

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    2. The Panic of 1819 by Murray Rothbard is an extremely informative book, but was not as interesting as I had hoped It was certainly interesting, but in a different way than I had expected.The panic of 1819 resulted in intense economic debate throughout the country, much of which Rothbard paints as expansionists versus hard money advocates Following the economic collapse after the post war boom, a large section of the population favored a return to prudence, thrift, and economy rather than legislat [...]

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    3. Great coverage of the topic, but not extremely interesting unless you re interested in the minutiae of how particular states and cities reacted to the panic, what legislation they passed and tried to pass, and the factions involved This is a tale of attempts to inflate the currency, interfere with contracts via stays, forced appraisals, and allowing banks to suspend redemption in specie , and protectionism Laissez faire advocates sometimes triumphed, but frequently the whining of imprudent inves [...]

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    4. I mostly enjoyed this book It was definitely not an easy read, and I ended up doing a lot of side research to understand many of the economic stuff Rothbard did a really solid job bringing up all the facets of the depression, along with the public response around the country I was very happy to read the Conclusion and Remedies Proposed chapters, as they clarified the whole book for me.

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    5. On hold for the summer

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