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4,000 Years of Price Control Failures, and Humans Still Haven’t Learnedfee.org/articles/price-controls-have-failed-for-4-000-years-and-humans-still-haven-t-learned/
554 sats \ 3 comments \ @HODL 18 Sep 2022 bitcoin
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214 sats \ 0 replies \ @siggy47 18 Sep 2022
Nice history. Should be required reading for leaders, though it probably wouldn't stop them anyway.
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185 sats \ 1 reply \ @moel 18 Sep 2022
So I’ve always misunderstood Revelation 6:6
A quart of wheat for a denarius (one liter of wheat for one full days pay) and three quarts of barley for a denarius; and do not harm the olive oil and the wine.
It simply assumed it’s about inflation and rising prices of simple foodstuffs. Turns out the bible is warning us for a bigger threat: price controls.
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185 sats \ 0 replies \ @moel 18 Sep 2022
The FEE article states that it is TOO LOW prices that lead to suffering and hunger, not too high prices though. So it seems Revelation speaks of too high prices and hunger after all, and not price-fixing-gone-wrong.
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