On Wed, 21 Oct 2020 06:07:55 +0100, Ahem A Rivet's Shot wrote:

>  Why ? Nobody uses such a thing any more, for most of my life and
> the sky has not fallen in. As far as I can see we need a medium of
> exchange whose quantity reflects the quantity of value available without
> constant revaluation.
>
Maybe it hasn't done so here since WW2, but it certainly has in other
places and will continue to do so in countries run by populists or
politicians with cast-iron ideas and zero willingness to leard from
experience.

FWIW there was a reasonably researched piece on Radio 4 the other day
that pointed out that, despite their best efforts and intentions, the
Roosevelt administration was unable to extract the USA from the Great
Depression. What did it was WW2 and all the arms contracts that came
flooding in from the Allies. These drove full employment in the USA in
the '40s and was boosted still further (women joining men on the assembly
lines) when the Pacific War became an American thing because Pearl
Harbour.


--
Martin    | martin at
Gregorie  | gregorie dot org

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