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January 21, 2013 at 1:32 pm
#17546
Member
Thanks, those examples help me see the difference more clearly. Just to be absolutely sure, would books such as Thomas Woods’s Meltdown and Murray Rothbard’s America’s Great Depression be examples of both economic history and applied economics then? Since they both use judgment to pick causes that led to certain events, and also analyze those causes using economic theory to show what effects they each have?