3 ms·

Genocidal I can grant, but we are talking about bank policy here. It seems that all evidence says that the 100 years after Jackson were objectively some of the

Genocidal I can grant, but we are talking about bank policy here. It seems that all evidence says that the 100 years after Jackson were objectively some of the most economically dynamic for the United States, especially in comparison to Europe or any other place in the world during that period. How was the economy crippled?

c3534l 10y ago
It was my understanding that (and especially absent a central bank) the US economy became prone to frequent and periodic economic panics, uncontrolled periods of inflation and deflation, and general financial instability.
- iopq 10y ago
  As opposed to now, when we have frequent bubbles and bursts and more inflation? It's hard to say what's better.
  - bildung 10y ago
    Both bubbles and bursts were more frequent and of higher amplitude in the 19th century: https://commons.wikimedia.org/wiki/File:US_Historical_Inflation_Ancient.svg https://commons.wikimedia.org/wiki/File:US_Historical_Inflat...
CobrastanJorji 10y ago
You are referring to the time period immediately preceding but not including the 1940s and 50s?
pfranz 10y ago
I can't speak for the 100 years, but I always thought his determination to pay off the national debt was a big contributor to economic problems[1] [1] https://en.wikipedia.org/wiki/Andrew_Jackson#Panic_of_1837 https://en.wikipedia.org/wiki/Andrew_Jackson#Panic_of_1837