Once the decision to return to gold at any price was made - and in the 1920s there seemed no sustainable alternative to gold-backed money - the UK had to choose a level. Pre-war: 4.87 dollars to the pound? Or something lower postwar?
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@threader_app compile please. -
Hey, thanks for sharing this thread from
@davidfrum. Read the whole version here:https://threader.app/thread/1223587514033766401 …
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Sounds a bit like democracy in general, as were discovering that there is no magic pill that will keep it working as we hope. It takes a lot of exercise and a proper diet to keep it strong enough to live a long life. Sigh.
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Nice tie-in. I think
@davidfrum would probably agree and approve, if he hadn't already exhausted himself this morning by committing#thread by accident. - Još 1 odgovor
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Don't forget the decade of self-inflicted low growth due to austerity. Very Serious People on monetary policy were so obsessed with the diet side of the equation that the UK became anorexic.
Hvala. Twitter će to iskoristiti za poboljšanje vaše vremenske crte. PoništiPoništi
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@threader_app unroll please. -
Hey Christina, use the keyword 'compile' to trigger Threader's bot. More info here:https://threader.app/faq/compile-with-the-bot …
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Milton Friedman wrote in 1968, bad monetary policy is like throwing a monkey wrench in a machine. Good policy is like not throwing a monkey wrench in a machine.
Hvala. Twitter će to iskoristiti za poboljšanje vaše vremenske crte. PoništiPoništi
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@threadreaderapp unroll please -
Hi, you can read it here: Thread by
@davidfrum: Brexit Day: things carry on. British people will have to work somewhat harder than otherwise to… https://threadreaderapp.com/thread/1223587514033766401.html …. See you soon.
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