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The problem of inflation has been solved before. It is a monetary phenomenon, period. It was solved by Paul Volcker turning the screws, mercilessly, until it we
by UIUC_06 4y ago
The problem of inflation has been solved before. It is a monetary phenomenon, period. It was solved by Paul Volcker turning the screws, mercilessly, until it went away.
I can understand the desire to treat it as brand-new, never been seen before. After all, maybe you weren't even around the last time this was a problem.
- rob_c 4y agoYes, and we knew covid-19 was of the covid class of virus, people still treated it like it was an alien contageon asif it had never been documented and studied pre-2019 extremely well how this class of infection spreads and what the full risk profile looks like. The biggest problem here is the risk of "those who don't know history are doomed to repeat it" is cropping up in all forms of public, opinion driven politics and it's in all likelyhood not going to end well. I wish and hope that I'm wrong.
- UIUC_06 4y agoThe fool learns from experience. The wise person learns from other people's experience.