The current financial crisis, a new government bailout in the works, talk of regulation and deregulation and a general unease regarding America's economic future have politicians and pundits alike threatening a repeat of the Great Depression.
This week, the Mackinac Center is re-running one of its most successful and popular publications ever: "Great Myths of the Great Depression," written in 1998 and revised in 2005 by President Emeritus Lawrence W. Reed. This powerful monograph details the cause of the depression, the government interventions that sustained it, and how the myths that federal policies eventually "saved" the country have been perpetuated over the past seven decades.
