Government was the cause of the Great Depression, and capitalism was the solution.
Authored By New Guard Staff
April 27, 2020
Most history textbooks claim that capitalism was the cause of the Great Depression, but this is a lie.
In reality, government is what caused the Great Depression, and capitalism was the solution.
Government raised the interest rates, implemented the highest tariffs in U.S. history, and raised taxes for the rich.
This made money harder to borrow, increased the cost of imports, and resulted in people’s hard earned income going to the government. Capitalism did not cause the Great Depression. Big government did.