Thomas E. Woods Jr., scholar at the Ludwig von Mises Institute and author of the new book Meltdown: A Free-Market Look at Why the Stock Market Collapsed, the Economy Tanked, and Government Bailouts Will Make Things Worse, discusses the economic and historical parallels between the Great Depression and the current economic crises, why the Austrian theory of the business cycle provides the only adequate explanation for both and why government attempts to ameilerate the effects of their intervention can only make matters worse.
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