Lawrence W. Reed, president of the Foundation for Economic Education, explains the causes of the Great Depression of 1929 - 1941 and outlines the clear lessons that historical episode provides for modern economic crises. This lecture was presented at a Show-Me Forum luncheon on Nov. 11, 2009, at the Kansas City Public Library.

Lawrence W. Reed is President of the Foundation for Economic Education (FEE), heading up one of the oldest and most respected economics institutes in the United States. Before joining FEE, Reed served as president of the Mackinac Center for Public Policy for two decades, helping it emerge as the largest, and one of the most effective and prolific, of more than 40 state-based free-market think tanks in the United States. Reed has traveled all over the world as a freelance journalist, and has shared his observations about politics and economics through thousands of newspaper, journal, and magazine articles, as well as radio commentaries, commencement addresses, speeches, and five books. His most recent book is Striking the Root: Essays on Liberty. In addition to writing a regular column for The Freeman, a journal published by FEE, Reed has served on the board of directors for the State Policy Network, as well as on the board of trustees for FEE, acting as chairman of FEE's board of trustees from 1998 through 2000. Reed holds a B.A. in economics from Grove City College and an M.A. in history from Slippery Rock State University. He has received honorary doctorate degrees from Central Michigan University and Northwood University.

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