Only true if you zoom out. If you actually looked the data the 1800s had wild and constant swings year to year, they just evened out during the Long Depression (i.e. the first Great Depression) by the end of the century.
Constrained monetary supply also leads to constant boom and bust cycles in a non static economy.
Only true if you zoom out. If you actually looked the data the 1800s had wild and constant swings year to year, they just evened out during the Long Depression (i.e. the first Great Depression) by the end of the century.
Constrained monetary supply also leads to constant boom and bust cycles in a non static economy.