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by Josh Guckert

1. “The Great Depression, like most other periods of severe unemployment, was produced by government mismanagement rather than by any inherent instability of the private economy.”

One of the favorite arguments of modern liberals is that the Great Depression was somehow caused by an “unfettered” free market in the 1920s. Needless to say, this is blatantly false, as Friedman points out in this quote from the 1962 classic, Capitalism and Freedom. It was rather the excessive government entanglements instigated by the Wilson, Hoover and Roosevelt Administrations which created, and later prolonged, the Depression.

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About The Author

Josh Guckert
Associate Editor

Josh Guckert is a 25-year-old lawyer and has been a contributor to The Libertarian Republic since January 2015. He attended the University of Pittsburgh, where he received his BA in Political Science with a History Minor in 2013 before earning his JD in 2016. During his time in law school, he served as the Editor in Chief of the Pittsburgh Tax Review and Editorial Coordinator for the JURIST legal news service. He was born and raised in the Pittsburgh area. He is a 2013 graduate of Cato University, hosted by the Cato Institute. His largest areas of interest within the liberty movement include the protection of civil liberties and economic freedom. He is the former President of the Pitt chapter of Students for Rand and a former President of the Pitt Law chapter of the Federalist Society.