Re:Bitcoin Blows Past $9,000
by closeparen on Sunday November 26, 2017 @10:42PM
(#15784643)
I don’t know about you, but I’d much rather have the economy of 1917-2017 than 1417-1517. It’s only in the last 100 years or so that we’ve had, y’know, industrialization and a rapidly rising standard of living. “It worked for thousands of years before the industrial revolution” is an exceedingly poor argument for an economic system.
[ Parent
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The progress of the last 100 years has a lot more to do with technological progress and less to do with the economic structure.
Technically the US was still on the gold standard up until the 70s.
Re:Bitcoin Blows Past $9,000
by closeparen on Sunday November 26, 2017 @11:17PM
(#15784793)
Well sure, I'm not arguing that monetary policy is responsible, only that "it worked fine during feudalism" is a silly argument.