Why were there so many “panics” during the gold standard?
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Nobel-prize-winning economist Paul Krugman wrote, Under the gold standard, America had no major financial panics other than in 1873, 1884, 1890, 1893, 1907, 1930, 1931, 1932, and 1933. Oh, wait….returning to the gold standard is an almost comically (and cosmically) bad idea.
Why were there so many “panics” during the gold standard?
Why were there so many “panics” during the…
Why were there so many “panics” during the gold standard?
Nobel-prize-winning economist Paul Krugman wrote, Under the gold standard, America had no major financial panics other than in 1873, 1884, 1890, 1893, 1907, 1930, 1931, 1932, and 1933. Oh, wait….returning to the gold standard is an almost comically (and cosmically) bad idea.