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"The idea grew especially popular during the Great Depression, when market failures dried up the supply of cash in circulation." I mean, if you define an execu
by megiddo 6y ago
"The idea grew especially popular during the Great Depression, when market failures dried up the supply of cash in circulation."
I mean, if you define an executive order seizing money as a "market failure", sure.
Or conversely, FDR didn't know what he was doing and Gresham's law always applies.
- monocasa 6y agoThey're talking about the banks folding, and the subsequent inability to change money, which happened years before FDR was elected.