Hacker News new | past | comments | ask | show | jobs | submit login

>The US had a gold-backed currency for the entire 1800s and there wasn't any significant inflation: https://www.minneapolisfed.org/about-us/monetary-policy/infl... .

The same source also shows that between 1800 and 1850 prices halved. I guess that's technically not inflation, but 50% deflation isn't great either and causes other economic problems.




>I guess that's technically not inflation, but 50% deflation isn't great either and causes other economic problems

Yes, there was a lot of deflation in the 1800s, and although it caused hardship, GDP per capita continued to grow at around 4% throughout the century, without huge dips like we saw in the Great Depression or the GFC.




Join us for AI Startup School this June 16-17 in San Francisco!

Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: