How Government Intervention Triggers Depressions

by Rob Price

Although painful, the solution to the 2020 economic recession is simple—uncover our problems, let prices adjust, and reallocate capital toward productive usages. The quicker we adjust, the shorter the recession and the sooner we create a sustainable economic foundation for future prosperity. This approach is the polar opposite to the current interventionist and inflationist orthodoxy. Murray Rothbard’s America’s Great Depression highlights the folly of government intervention during the 1930s and the economic malaise followed. The similarities to today are a warning sign. It’s time to push back against the stimulatory and interventionist status quo or prepare for the recession to turn into a depression.

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