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Money and Banks
Thanks to vast regulatory powers, regimes have many tools and many advantages in propping up fiat currencies when faced with competition from other currencies.
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.”
Money and BanksTaxes and Spending
From its inception, the Fed's job has been to pay off the debt and cover excess expenditures with newly printed paper money.
In order to demand goods and services individuals must produce something useful first. Hence, supply drives demand and not the other way around.
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.
Bureaucracy and Regulation
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.