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The system did not work for the 1800s. Inflation and deflation boom and busts in the 1800s were so severe and destructive that it led to central banking to avoi
by ChrisLomont 4y ago
The system did not work for the 1800s. Inflation and deflation boom and busts in the 1800s were so severe and destructive that it led to central banking to avoid those problems.
Here's where you can start looking at the data
https://en.m.wikipedia.org/wiki/List_of_recessions_in_the_United_States https://en.m.wikipedia.org/wiki/List_of_recessions_in_the_Un...
- marcinzm 4y agoYet society survived and thrived which is the definition of a working system to me.
- ChrisLomont 4y agoYet the people were vastly worse off than under the current system. Which would you prefer to live in? Here's some of what it was like to live then for comparison https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4577070/ https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4577070/