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> A major economic change sounds impossible, but we've done it in the US at least three times in the last century. No.
by avgcorrection 3y ago
> A major economic change sounds impossible, but we've done it in the US at least three times in the last century.
No.
- flagrant_taco 3y agoCreating the Federal Reserve was a fundamental change. Confiscating gold then pegging the US dollar to a gold-backed value was a fundamental change. Getting rid of the gold standard and going full fiat sad a fundamental change. The economic model, monetary policy, and incentives of each system were completely different. We may not have renamed the currency or the country, but that doesn't change the fact that those were major economic shifts.