Lastly, there are various other theories that downplay or reject the explanations of the Keynesian and monetarists. For example, some new classical macroeconomists have argued that various labor market policies imposed at the start caused the length and severity of the Great Depression. The Austrian school of economics focuses on the macroeconomic effects of money supply, and how central banking decisions can lead to overinvestment. The Marxist critique of political economy emphasizes the tendency of capitalism to create unbalanced accumulations of wealth, leading to overaccumulation of capital and a repeating cycle of devaluations through economic crises. Marx saw recession and depression as unavoidable under free-market capitalism and there are no restrictions on accumulations of capital other than the market itself.


最后,还有其他各种各样的理论,对凯恩斯主义和货币主义者的说法不予重视或者排斥。例如,一些新古典宏观经济学家认为, 一开始实施的各种劳动市场政策造成大萧条长期性和严重性。奥地利学派关注货币供应量产生的宏观经济效应,以及中央银行的决定如何导致过度投资。马克思主义政治经济学的批判强调资本主义趋势,造成财富的积累不平衡,导致资本积累过多和由于经济危机造成的货币贬值周期的循环。马克思认为在自由市场资本主义经济衰退和经济萧条是不可避免的，而且除了市场本身没有什么可以限制资本积累。