A Matter of Interest: Reexamining Money, Debt, and Real Economic Growth

This work describes how the laissez-faire economy of the U.S. prior to 1929 led to a crisis of illiquidity and overindebtedness, and how the mixed economy that followed World War II will result in a similar crisis. Hixson explores the basic operating principles of a laissez-faire economy, and explains why the Great Crash of 1929 was a predictable outcome of that system. Also examined are the institutionalization of a mixed economy, the trends that show why a mixed economy has no long-term viability, and suggestions for changes in operating principles and financial practices.