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Been there done that bought the Great Depression.
by D-Coder 10y ago
Been there done that bought the Great Depression.
- eru 10y agoThe US deposit insurance via FDIC was created close to the start of the Great Depression and did _not_ prevent the rest of it. For something that did stabilize economies, see eg the Canadian free banking experience in the 19th century (https://www.alt-m.org/2015/08/08/thats-right-famously-sound-famously-stable/ https://www.alt-m.org/2015/08/08/thats-right-famously-sound-...), or the Scottish or Australian free banking eras. What made the depression Great were eg FDR's high wage policies, and the American Feds tight money.