In Brief: In this 15 minute video, Dr. Lawrence Reed, discusses the myths surrounding the Great Depression.

“Many volumes have been written about the Great Depression of 1929-1941 and its impact on the lives of millions of Americans. Historians, economists and politicians have all combed the wreckage searching for the “black box” that will reveal the cause of the calamity. Sadly, all too many of them decide to abandon their search, finding it easier perhaps to circulate a host of false and harmful conclusions about the events of seven decades ago. Consequently, many people today continue to accept critiques of free-market capitalism that are unjustified and support government policies that are economically destructive.” – Great Myths of the Great Depression by Lawrence W. Reed

Lawrence W. Reed discusses the myths surrounding the Great Depression at the 2009 Austrian Scholars Conference in Auburn, AL. Follow to view the 15 minute video of his remarks.

Dr. Reed is president of the Foundation for Economic Education ( and is the founding president and now President Emeritus of the Mackinac Center for Public Policy.

The Austrian Scholars Conference is the international, interdisciplinary meeting of the Austrian School. Over three days, the conference offers 80 plus presentations on economics, history, philosophy, and the humanities, in addition to named lectures by the leaders in the field.

Follow the URL below to view Dr. Reed’s article.