In Randall E. Parker’s Reflections on the Great Depression (2002), leading economists who lived through and wrote about the Great Depression are invited to reflect on that horrific and still-puzzling episode. If a consensus can be said to have emerged among these economists, it is the view that correlation, causation, and explanation need not be carefully distinguished from each other.

Roger W. Garrison is Professor Emeritus of Economics at Auburn University.
American HistoryEconomic History and DevelopmentEconomic PolicyEconomyLabor and EmploymentLaw and Liberty
Other Independent Review articles by Roger W. Garrison
Winter 2011/12 Alchemy Leveraged: The Federal Reserve and Modern Finance
Spring 1999 The Great Depression Revisited