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Lesson #3: Capitalism Didn’t Cause The Great Depression. Government Policies Did.

One of the most nefarious modern myths, which has wreaked incalculable damage to freedom in the United States, is the mistaken belief that free markets, free enterprise, and capitalism caused the problems of the Great Depression, and that government programs solved them. The opposite is true: Government policies and programs, in large measure, caused the Depression. Free markets and free enterprise lifted Americans out of the Depression.