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The Panic of 1819 exerted a profound effect on American economic thought. As the first great financial depression, similar to a modern expansion-depression pattern, the panic heightened interest in economic problems, and particularly those problems related to the causes and cures of depressed conditions.

Murray Rothbard

Biography

Author Profession: Economist
Nationality: American
Born: March 2, 1926
Died: January 7, 1995

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