[Jakawao]

> The pre-central bank localized agrarian and early industrial economic model leant itself to boom and bust cycles eg massive instability

Glad to see we put those patterns behind us /s

[bee_rider]

I mean, we haven't had a depression quite as world-shatteringly gigantic at the Great Depression since. Although I guess it isn't obvious if that's because the system we have now is somehow better, or if it is just the case that we've been more prosperous as a baseline since then, and so our various downturns haven't launched people into such a level of destitution.

[barry-cotter]

Central banks and macroeconomists have learned a lot since the Great Depression, mostly of the “don’t do that again” variety. For example the Fed caused the Great Depression by contracting the money supply by a third in the middle of a recession, killing US economic growth for decades. They are unlikely to repeat that mistake.

[jokethrowaway]

Or if we've just postponed it all until now