Myth #1: “Hoover was a do nothing president”
Asset value & wage price controls
Myth #2: “The New Deal ended the Depression”
Great Britain over by 1933 enjoyed very rapid growth 1931 onwards. In the United States the Great Depression not only goes on for a decade but it actually gets worse. 1937 unemployment was just as high in 1932 but we had the added burden of
Myth #3: WWII ended the Depression
Robert Higgs shows that the great depression didn’t end 1947 or 1948 and the war merely conceals the low production levels that occurred in the United States.
To Do: Quote Thomas Sowell, Milton Friedman, Ben Bernacke, etc.