The 1920 Depression Ended In One Year When Government Did Nothing

In this fascinating speech, economist Thomas Woods explains why you’ve never heard of the Depression of 1920. Because it was over within a year, as the government let it run its course.

  • The first year of the 1920 Depression was worse than that of 1929. Conditions were horrible.
  • Yet due to President Woodrow Wilson’s stroke near the end of his term, very little was done by the government to stop the economic decline.
  • By the summer of 1921, recovery was on the way. 
  • It’s too bad we’re scared into thinking that economic downturns automatically require bold government action. History shows they don’t necessarily require any.

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