All serious economists disregard the Austrian school. And with good reason - they're kooks. There was a central bank during the great depression but the US was

All serious economists disregard the Austrian school. And with good reason - they're kooks. There was a central bank during the great depression but the US was still on the gold standard until 1933. When it went off the gold standard the great depression stopped getting worse and started getting better: http://delong.typepad.com/sdj/2011/09/yes-recovery-in-the-great-depression-started-with-roosevelt-stephen-williamson-takes-to-his-fainting-couch-department.html http://delong.typepad.com/sdj/2011/09/yes-recovery-in-the-gr...