If "every Austrian economist" can explain the Great Depression, then what is the explanation?
I need an explanation for the almost simultaneous experience of the Great Depression in Austria, Australia, Belgium, Canada, China, Czechoslovakia, Denmark, France, Germany, India, Italy, Japan, Netherlands, New Zealand, Norway, Peru, Poland, Russia, South Africa, Spain, Sweden, Switzerland, United Kingdom, United States, and Yugoslavia.
Especially because the Depression started before October, 1929, e.g., in Germany perhaps as early as 1927, and in agriculture perhaps in 1926. In the US, it was underway in the summer of 1929.
The explanation should also include an explanation for the long duration of the Depression, worldwide. |
