4 ms·
The US economy was absolutely fucked for a large portion of that time period largely because of the lack of monetary policy. The economy has done much, much bet
by HDThoreaun 3y ago
The US economy was absolutely fucked for a large portion of that time period largely because of the lack of monetary policy. The economy has done much, much better since we introduced fiat.
- WalterBright 3y agoMilton Friedman in "Monetary History of the United States" shows that fluctuations in the money supply were significantly more pronounced after fiat money began. The fed's enlightened hand on the tiller simply isn't as good as the blind actions of the free market.
- HDThoreaun 3y agofluctuations in the money supply are not necessarily a bad thing.
- WalterBright 3y agoIf they have proved unable at smoothing the small fluctuations, how can they do better with the large ones? And they didn't - the Great Depression.