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What about an example of a major economy without a central bank that survived a major depression (say, the size of the Great Depression)? Or counterexamples?
by dap 12y ago
What about an example of a major economy without a central bank that survived a major depression (say, the size of the Great Depression)? Or counterexamples? (I believe there are counter-examples -- nations with no central bank that took a worse beating than other nations that had a central bank during a major recession -- but I cannot remember them. Sorry.)
- mkempe 12y agoNobody can offer such an example, because the boom-bust (depression) cycle itself is caused by the interventions of central bankers.