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Even in comparison to the great depression and the recent financial collapse? There are always booms and busts, but inflation tends to encourage much bigger bo
by Gormo 16y ago
Even in comparison to the great depression and the recent financial collapse?
There are always booms and busts, but inflation tends to encourage much bigger booms, and thus much bigger busts. Could you imagine the kind of risk-taking behavior that led to the credit bubble happening in an environment of anticipated deflation?
- jbooth 16y agoThe great depression and recent collapse are 75 years apart. There were 4 major downturns in the 1800s, 3 in the later half, and they were much more severe than the typical recession in the 20th century, 2 were full-fledged depressions: http://au.answers.yahoo.com/question/index?qid=20080304215730AAbuqyC http://au.answers.yahoo.com/question/index?qid=2008030421573... This is in the context of the industrial revolution, so yes, very much boom or bust.
- dillydally 16y agohttp://en.wikipedia.org/wiki/Panic_of_1819 http://en.wikipedia.org/wiki/Panic_of_1819 http://en.wikipedia.org/wiki/Panic_of_1837 http://en.wikipedia.org/wiki/Panic_of_1837 http://en.wikipedia.org/wiki/Panic_of_1857 http://en.wikipedia.org/wiki/Panic_of_1857 http://en.wikipedia.org/wiki/Panic_of_1873 http://en.wikipedia.org/wiki/Panic_of_1873 http://en.wikipedia.org/wiki/Panic_of_1893 http://en.wikipedia.org/wiki/Panic_of_1893 http://en.wikipedia.org/wiki/Panic_of_1901 http://en.wikipedia.org/wiki/Panic_of_1901 Almost every 20 years, like clockwork.