The Great Depression is a full-scale Austrian explanation of the Depression. It came out in 1934. Here it is in pdf.
The conditions of recovery which have been stated do indeed involve the restoration of what has been called capitalism. But the slump was not due to these conditions. On the contrary, it was due to their negation. It was due to monetary mismanagement and State intervention operating in a milieu in which the essential strength of capitalism had already been sapped by war and by policy. Ever since the outbreak of war in 1914, the whole tendency of policy has been away from that system, which in spite of the persistence of feudal obstacles and the unprecedented multiplication of the people, produced that enormous increase of wealth per head which was characteristic of the period in which it was dominant. Whether that increase will be resumed, or whether, after perhaps some recovery, we shall be plunged anew into depression and the chaos of planning and restrictionismâ€”that is the issue which depends on our willingness to reverse this tendency….
All over the world, Governments to-day are actively engaged, on a scale unprecedented in history, in restricting trade and enterprise and undermining the basis of capitalism. Such a policy is not confined to the Socialists. Indeed the political power of the socialist parties in many parts of the world may be said to be waning. But their opponents, the dictators and the reactionaries, are inspired by the same ideas. I t is a complete misapprehension to suppose that the victory of the Nazis and the Fascists is a defeat for the forces making for the destruction of capitalism. They have the same fanatical hatred of economic liberalism, the same hopes of a planned society. The differences are hierarchical. In Germany it is a crime deserving of torture or exile to be a Jew; in Russia to possess two cows. In our own more tranquil community the differences are equally non-economic. No doubt to their respective friends and colleagues it seems to make a world of difference whether agriculture is planned by Major Elliot or Dr. Addison. From the economic point of view there is continuity of policy. Such policies, as we have seen, have a cumulative tendency. They lead to an order of society which is likely to be less stable, less free, less productive, than our own.