Part I of II, by Claudio Grass The field of economics has long and often very embarrassing history of absurd theories, blatantly wrong assumptions and hypotheses, spectacularly wrong predictions and entirely avoidable policymaking blunders; a few of them hilarious, most of them catastrophic, some of them literally murderous. Overconfidence and a generous amount of hubris …
Tag: Roman Empire
Corruption of the currency and decivilization – Part II
Lessons from the Fall of the Roman Empire – Part II of II Gold-backed civilization vs. the Welfare State Many rational economists and students of history have written countless analyses on the gold standard and the terrible impact that its end has had on the world economy. However, as the Fall of Rome clearly demonstrates, …