Lawrence Reed on the Intriguing Boom Bust Cycle

I was doing a talk on explaining the Great depression of the 1920s and 30s. I was doing that somewhere, it seemed, every three or four weeks, because people were concerned about the environment, and were we going to see a repeat of that and that sort of thing? What caused it, and what are the similarities with the current situation? So, yeah, the situation was dire, but it also gave us opportunities. And to talk about the Great Depression means you get a chance to explain to people where booms and busts come from, that they don't come from the free marketplace, they come from government intervention. It gives you opportunities to talk about inflation and mismanagement of the money supply. All these are critically important topics within the broader liberty framework. And so I welcomed the opportunities that the bad times gave us to drive home some of the points we make all the time at fee.