Depression Quote by Axel Kaiser
““the primordial artifact- of the Kaaba of canonical economics today is the claim that the free market somehow caused, and failed to cure, the Great Depression. ””
About This Quote
Source Article: “The Myth of the Free Market” by Axel Kaiser, 2020
Critiques the narrative that free markets caused and failed to resolve the Great Depression, challenging conventional economic myths.
In simple terms: Free market blamed for Depression is a contested claim.
Question economic narratives.
Themes
Mood
Type
When to use this quote
- academic debate
- public policy
- economic education
Key Concepts
Questions to Reflect On
- What alternative explanations exist for the Depression?
- How do policy narratives shape public opinion?
Simplifies complex causes to a single factor.