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I suppose we shall be in need of a new explanation for the Great Depression then.



They already exist. Here are some articles from mises.org that look at it from the Austrian school's point of view.

https://mises.org/wire/how-artificial-boom-1914-1929-caused-... https://mises.org/library/great-depression https://mises.org/library/fake-history-depression


Better than "animal spirits"?


You have a youtube level understanding of Keynes if thats what you think his explanation boils down to.


You realize that Keynes' explanation of the Depression makes no more than cameos in the modern explanations, right?


https://archive.is/aeXVP

> We found that a relapse isn't likely unless lawmakers gum up a recovery with ill-conceived stimulus policies




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