"I don't believe we shall ever have a good money again before we take the thing out of the hands of government, that is, we can't take it violently out of the hands of government, all we can do is by some sly roundabout way introduce something that they can't stop." - F.A. Hayek 1984

(kinda) A great website to share if you have no idea how to explain the downfall of the US economy.

Edit: Thanks to everyone who provided insight on this website. I’ve had this in my bookmarks for a very long time and was curious how it held up.

  • Krono@lemmy.today
    1·
    6 months ago

    Leftists: its deregulation and reagan and the destruction of labor unions and forever wars and wall street and the death of manufacturing and and and

    Libertarians: “GOLD!”

  • Blue_Morpho@lemmy.world
    1·
    6 months ago

    While there is no doubt that the Nixon shock and gold standard had huge effects in 1971, that website pushes a goldbug agenda that isn’t supported by other sources.

    For example the labor productivity gap didn’t start until after 1979. Which is no surprise given that 1980 was the start of Reagan pushing his trickle down economics.

    https://www.epi.org/productivity-pay-gap/

  • arin@lemmy.worldEnglish
    0·
    6 months ago

    At the end it’s the big rise in seed oil consumption… Interesting, also WTF the insane rise in health admin staff