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You pointing out two policy measures which are not according to the Austrian school doesn't invalidate the argument that the response was Austrian rather than
by jcfrei 6y ago
You pointing out two policy measures which are not according to the Austrian school doesn't invalidate the argument that the response was Austrian rather than Keynesian. The seizure of Gold was to prevent a further contraction in credit because the dollar was still on a gold standard. I'm not defending gold confiscations (nor am I in favor of a gold standard) but without this measure the crisis would likely have been even worse. The tariffs were politically motivated (to strengthen American manufacturers - neither Keynesian nor Austrian) and intended to stoke inflation.