
๐๐๐๐|4ๆ 30, 2026 13:11
Really enjoying this book. A fascinating study of the last 30 years of the 19th century, and how the economy grew during price deflation. Though not, as many believe, a result of sound money, but rather a culmination of huge technological leaps (railroads, mechanized agriculture, telegraph, electricity, Bessemer process (steel), etc) and high population growth that doubled and tripled productive output in a brief period of time. Gets a bit wonky at points, but the research is written in plain language and very thorough. Recommended for enthusiasts and especially Bitcoin folks looking to better understand the dynamics of deflation.(๐๐๐๐)