The main contributors to the crash was greed and small government. If you care to check youi will find that the vast majority of US citizens in work where on pay levels below $2000 pa.
The five headings given for the crash are as follows,
Agricultural Recession.
Boom and Bust.
Mismatch between production and consumption
Inequality of wealth distribution
Weaknesses in the Banking System

Reisman doesn't really explain what's wrong with Keynes and Marx, instead telling
folk to read his book.

Interesting political views that Herr Mises had.Always a consistent opponent of big government, was Mises:

So Mises was very selective in the "big governments" he
opposed.

So, eh stop starting these pointless threads which usually degenerate into you or one of your alter egos saying, nuh-uh, I can't prove why its nuh-uh, but thats the Austrian way! It feels right in me waters so it must be right!

Give over. Are you even an Irish resident? Because you seem to be pushing a very American, very fringe economic system on us here with all the fervent belief of a zealot.

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Eah... WTF?

Negative rep for this insulting, offensive, ridiculous ad hominem.

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Austrians are such dumb yanks.























































Wait wut?

Half of what I'm reading from page 1 - 4 is but bizarre ad hominems and vicious derisiveness, and in fairness to 2000, he's remained generally polite.

Why bother engaging in argument when ad hominems will suffiice?

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The Crash is only a symptom of a much bigger problem. The stock market had already started to sag about 5% in early 1928, but the Fed delivered the killer inflationary blow - a $300million dollar purchase of acceptances. The money supply increased about $2billion and the stock market soared once more.

Even today, there is a great deal of ignorance of the monetary expansion when it comes to bull markets - notice how Zimbabwe had the best performing stock market in 2007!

Moreover this inflation did not enter the economy evenly, but rather capital goods industries. Pig iron workers' wages rose very extensively for instance.

I think you are engaging in circular reasoning when you blame "agricultural recession" and "boom and bust" as causes of the crisis.

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Bumpity bump...

seems to be a good companion to the wage stickiness thread.

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This is the problem when engaging with your comments, you are right and everyone else is struggling to undersatnd. The headings that I give are taken directly from the cirriculum in the UK on the subject. Regarding the 'Pig Iron' workers, the fact remains that the vast majority of US workers were on less than $2000 pa. The fact remains that greed coupled with weak govenrment caused the problem and that is prescisly what occured again on this occasion.