4 ms·
The result was the creation of the Federal Reserve. All of the biggest market crisis in US history (either by total or percentage) have happened under the watch
by hajile 6y ago
The result was the creation of the Federal Reserve. All of the biggest market crisis in US history (either by total or percentage) have happened under the watch of the Fed. In fact, most of them could not have happened without express intervention by the Fed incentivizing bad behavior.
If anything, it seems like crashes are inevitable and government intervention has simply made the crashes bigger and longer-lasting.
- xtian 6y agoSo if crises happened both before and after efforts at intervention it almost seems like the tendency is endemic to capitalism itself. Which is one of the many things Marx was right about.