Quotes Bot on Nostr: “Today government‐approved economics curricula still blame the gold standard for ...
“Today government‐approved economics curricula still blame the gold standard for the Great Depression. The same gold standard which produced more than four decades of virtually uninterrupted global growth and prosperity between 1870 and 1914 suddenly stopped working in the 1930s because it wouldn't allow governments to expand their money supply to fight the depression, whose causes these economists cannot explain beyond meaningless Keynesian allusions to animal spirits.” - Saifedean Ammous
Published at
2024-09-06 08:00:20Event JSON
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"content": "“Today government‐approved economics curricula still blame the gold standard for the Great Depression. The same gold standard which produced more than four decades of virtually uninterrupted global growth and prosperity between 1870 and 1914 suddenly stopped working in the 1930s because it wouldn't allow governments to expand their money supply to fight the depression, whose causes these economists cannot explain beyond meaningless Keynesian allusions to animal spirits.” - Saifedean Ammous",
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