3 ms·
In most cases in the past, the printing of money has actually been the effect, and not the cause, of problems like hyperinflation: * https://clintballinger.wor
by throw0101a 6y ago
In most cases in the past, the printing of money has actually been the effect, and not the cause, of problems like hyperinflation:
* https://clintballinger.wordpress.com/2021/01/12/the-myth-of-hyperinflation/ https://clintballinger.wordpress.com/2021/01/12/the-myth-of-...
As a linked-to IMF paper observes (Benes and Michael Kumhof 2012, p. 12):
> To be fair, there have of course been historical episodes where government-issued currencies collapsed amid high inflation. But the lessons from these episodes are so obvious, and so unrelated to the fact that monetary control was exercised by the government, that they need not concern us here. These lessons are: First, do not put a convicted murderer and gambler, or similar characters, in charge of your monetary system(the 1717-1720 John Law episode in France). Second, do not start a war, and if you do, donot lose it (wars, especially lost ones, can destroy any currency, irrespective of whether monetary control is exercised by the government or by private parties).
* https://www.imf.org/external/pubs/ft/wp/2012/wp12202.pdf https://www.imf.org/external/pubs/ft/wp/2012/wp12202.pdf