A Quote by Murray Rothbard
The Panic of 1819 exerted a profound effect on American economic thought. As the first great financial depression, similar to a modern expansion-depression pattern, the panic heightened interest in economic problems, and particularly those problems related to the causes and cures of depressed conditions.
Related Quotes
There seem to be many causes of depression. One cause is profound loss, grief. Economic hardship we know is linked to depression. We don't have a full picture.
If you look at the Greek economic record, it's been very similar to the U.S. experience in the first four years of the Great Depression. And after having a Depression-sized event, they've cut the unit-labor cost in Greece - they've closed something like half the gap with Germany.
During the Great Depression, African Americans were faced with problems that were not unlike those experienced by the most disadvantaged groups in society. The Great Depression had a leveling effect, and all groups really experienced hard times: poor whites, poor blacks.
Social economic problems do not exist everywhere that an economic event plays a role as cause or effect - since problems arise only where the significance of those factors is problematical and can be precisely determined only through the application of methods of social-economics.
I've had a panic disorder since I was sixteen, and they always said that's a subset of depression. And I'm like, 'I don't have depression.'
When the banks grow to or when these financial institutions grow to such a size that they can't sustain themselves, or what have you, they have problems, economic problems, or financial problems, they shouldn't be able to look back to you and I, the taxpayer, to be bailed out.
Understanding the true causes of the Depression, as well as the real economic record of the United States in the 1930s, is an essential ingredient in anyone's economic and historical education.
Depression is not caused by a chemical imbalance in the brain, and it is not cured by medication. Depression may not even be an illness at all. Often, it can be a normal reaction to abnormal situations. Poverty, unemployment, and the loss of loved ones can make people depressed, and these social and situational causes of depression cannot be changed by drugs.
Your grandparents came of age in the Great Depression, when everyday life was about deprivation and sacrifice, when the economic conditions of the time were so grave and so unrelenting it would have been easy enough for the American dream to fade away.
One intriguing subplot of the economic crisis is the failure of most economists to predict it. Here we have the most spectacular economic and financial crisis in decades - possibly since the Great Depression - and the one group that spends most of its waking hours analyzing the economy basically missed it.
Making economic policy isn't a popularity contest, especially when financial markets are in a panic.
Market capitalism survived and prospered after the boom-bust industrial revolution of the 19th century, and the Great Depression and world wars of the 20th century. It will recover from the financial panic of 2008-09 and Obamanomics.
Panic is efficient. Panic is effective. Panic is the way I get things done! Panic attacks are my booster rockets!
From the Great Depression, to the stagflation of the seventies, to the current economic crisis caused by the housing bubble, every economic downturn suffered by this country over the past century can be traced to Federal Reserve policy. The Fed has followed a consistent policy of flooding the economy with easy money, leading to a misallocation of resources and an artificial 'boom' followed by a recession or depression when the Fed-created bubble bursts.
I make a project and I panic. Which is good, it can be a method. First, panic. Second, conquer panic by working. Third, find ways to solve your doubts.
The idea of storage as a solution of economic problems at least has the support of common sense.It is diametrically opposed to the topsy-turvy Alice-in-Wonderland reasoning that has marked so much of our depression thinking and policy.
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