Understanding The Great Depression – with Lawrence Reed

In this episode of The Rational Egoist, Michael Leibowitz sits down with renowned economist and historian Lawrence W. Reed to uncover the real causes and consequences of the Great Depression. Was it a failure of capitalism—or a failure of government?

Drawing from decades of economic scholarship, Larry Reed dismantles the prevailing myths and reveals how misguided monetary policy, protectionism, and central planning turned a market correction into a global catastrophe. If you've ever been told that the Great Depression proves capitalism doesn't work, this episode is for you.

About Our Guest:

Lawrence W. (“Larry”) Reed is the former President of the Foundation for Economic Education (FEE), where he served from 2008 after a long history with the organisation dating back to the late 1970s. Before FEE, Reed spent 21 years as President of the Mackinac Center for Public Policy in Michigan and was a professor and department chair of economics at Northwood University. He remains one of the most articulate defenders of economic liberty alive today.

About Michael Liebowitz – Host of The Rational Egoist

Michael Liebowitz is the host of The Rational Egoist podcast, a philosopher, author, and political activist committed to the principles of reason, individualism, and rational self-interest. Deeply influenced by the philosophy of Ayn Rand, Michael uses his platform to challenge cultural dogma, expose moral contradictions, and defend the values that make human flourishing possible.

His journey from a 25-year prison sentence to becoming a respected voice in the libertarian and Objectivist communities is a testament to the transformative power of philosophy. Today, Michael speaks, writes, and debates passionately in defence of individual rights and intellectual clarity.

He is the co-author of two compelling books that examine the failures of the correctional system and the redemptive power of moral conviction:

Down the Rabbit Hole: How the Culture of Corrections Encourages Crime

https://www.amazon.com.au/Down-Rabbit-Hole-Corrections-Encourages/dp/197448064X

View from a Cage: From Convict to Crusader for Liberty

https://books2read.com/u/4jN6xj

About Xenia Ioannou – Producer of The Rational Egoist

Xenia Ioannou is the producer of The Rational Egoist, overseeing the publishing and promotion of each episode to reflect a consistent standard of clarity, professionalism, and intellectual integrity.

As a CEO, property manager, entrepreneur, and lifelong advocate for capitalism and individual rights, Xenia ensures the podcast stays true to its core values of reason, freedom, and personal responsibility.

Xenia also leads Capitalism and Coffee – An Objectivist Meetup in Adelaide, where passionate thinkers gather to discuss Ayn Rand’s ideas and their application to life, politics, and culture.

Join us at: https://www.meetup.com/adelaide-ayn-rand-meetup/

(Capitalism and Coffee – An Objectivist Meetup)

Because freedom is worth thinking about—and talking about.

Follow Life on Purpose – Xenia's thought-provoking essays at her Substack:

https://substack.com/@xeniaioannou?utm_source=user-menu