Thanks in part to the decentralized nature of Mayan civilization, it was much more difficult for the Spaniards to conquer the Mayas than the Aztecs and Incas.
The adoption of gold as the preferred commodity money was never inevitable or based on some sort of natural law of money. Many coincidences and political schemes were key factors.
This is freedom: "That he is independent of the arbitrary power of his fellows … [freedom] arose in the process of social development and its final completion is the work of mature Capitalism.”
Thanks to covid shutdowns, declining productivity finally brought price inflation to the fore. But the world's governments have learned nothing and cling to the same inflationist policies.
Mayor Lori Lightfoot chided businesses for not doing enough to protect themselves from theft. But Chicago's government does a lot to prevent private businesses from doing this.
The Fed admits inflation is a problem, so now begins the search to find a fix that doesn't involve a recession or anything else that might allow the economy to heal its malinvestments.
