The Tom Woods Show, episode 804.

Prepare to set fire to the index card of allowable opinion.

Your daily dose of liberty education starts here, the Tom Woods Show.

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Hi, everybody, Tom Woods here.

We're talking today about the Depression of 1920 to 21.

As I mentioned in the last episode, this is an area that I've written about. I've spoken about it. My YouTube video on it has had

close to a quarter million views, so there's been some interest generated in this topic.

But there's also been some pushback by others, particularly by Keynesians, because what we're trying

to say about this depression is that here's an economic downturn that reversed itself without

fiscal and monetary stimulus. Well, they can't let that stand, so they've got to respond to that.

And Patrick Newman, our guest today, has responded to the responses in an excellent new paper that I'm going to link to at tomwoods.com slash 804.

It's called The Depression of 1920 to 1921, a credit-induced boom and a market-based recovery question mark.

So he reviews that literature very, very effectively.

You'll definitely want to read that paper.

He is a professor of economics at Florida Gulf Coast University.

Patrick, welcome to the show.

Thank you so much for having me on.

All right.

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