The Real Cause of The Great Depression with Robert P. Murphy – Part 1 (Ep. 49)
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When people hear “The Great Depression,” most think of 1929’s market crash.
But in this eye-opening conversation, economist Dr. Robert P. Murphy takes us further back, to the real roots of America’s central banking system and how its evolution may have done more harm than good.
From 19th-century boom-bust cycles and railroad speculation to the secret meeting at Jekyll Island that led to the Federal Reserve Act of 1913, Dr. Murphy brings clarity to a history often clouded by politics, panic, and policy spin. He explains why the Fed was created, how it was originally intended to function, and what it’s become today.
What to expect:
- The Austrian School’s take on boom-bust cycles
- How JP Morgan acted as a “private Fed” in 1907
- The truth behind the Jekyll Island meeting
- Why 1920–21 proves government intervention isn’t necessary
- And more!
Resources:
- “The Politically Incorrect Guide to The Great Depression and the New Deal” by Robert P. Murphy
- “America’s Great Depression” by Murray N. Rothbard
- infineo.ai
- The Bob Murphy Show
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Connect with Robert Murphy:
About Our Guest:
Robert P. Murphy is a Senior Fellow at the Fraser Institute and Chief Economist at Infineo and author of the widely acclaimed book, Choice: Cooperation, Enterprise, and Human Action. He is also a Senior Fellow with the Mises Institute. He received his Ph.D. in economics from New York University. Previous positions include Research Assistant Professor with the Free Market Institute at Texas Tech University, Visiting Assistant Professor of Economics at Hillsdale College, Senior Economist at the Institute for Energy Research, Visiting Scholar at New York University, Research Analyst at Laffer Associates, and Senior Fellow in Business and Economic Studies at the Pacific Research Institute. Prof. Murphy runs the blog, Free Advice, and hosts the podcast, The Bob Murphy Show.
He is the author of The Politically Incorrect Guide to Capitalism, The Politically Incorrect Guide to the Great Depression and the New Deal, The Study Guide to Man, Economy, and State with Power and Market, The Human Action Study Guide, The Study Guide to The Theory of Money & Credit by Ludwig von Mises, and Lessons for the Young Economist. He has also written hundreds of economics articles for the layperson, has given numerous radio and television interviews on such outlets as Fox Business and CNBC, and is active on Twitter (@BobMurphyEcon).
