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70 sats \ 1 reply \ @tomlaies 1 Dec \ on: Long-term global inflation chart. WTF happened in 1971? econ
What's great about this chart is that you can clearly see it didn't actually happen in 1971. You can clearly see it started at least in the 50s.
  1. The gold standard didn't end in 1971. It was a process stat started before that
  2. Modernity happened. Everything happened. Our world is unrecognizable for someone from the early 1900s. Computers happened. Widespread electrification happened. Everything happened.
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0 sats \ 0 replies \ @xz 1 Dec
That's a good observation.
I wonder what would have happened if everything happened but we did not end up with a hockey stick. Would that be possible, theoretically, and if so what differences would there be?
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