It’s actually not that complicated. Debts ballooned to 300-400% of GDP, then collapsed, then the govt response was absolutely idiotic, and it didn’t recover until a huge portion of the workforce returned from the war.
War does nothing for economic growth, it’s nothing but waste and destruction.
If that were the case then we could just build fleets of ships, sail them out into the seas and blow them up in perpetuity and we’d have a permanently healthy economy.
War incentivized cryptography->internet->bitcoin.
If there was no "other" to fight, society would not even need money, we would just exchange favors, as certain bitcoiners have pointed out.
Up to a point. We have reached the point where what you are saying is perhaps true. Nuclear, Biological, and modern war can wipe out more resources and human potential than is sustainable. Nothing quite drives innovation like existential dread. But we are beyond sticks and arrows.
My point about bitcoin fixing anything stands. If the gold standard, the go to example for why bitcoin will fix everything, could not prevent the great depression, despite being a similar scarce/depreciating asset, than bitcoin won't fix everything. (By everything i only mean what you say it will, not literally everything)
Either Bitcoiners( myself included) need to start fielding real answers to physical problems, visas, housing, economies and defence. Or we must admit Bitcoin is something entirely different with little in common with gold and will somehow not fall into the same state capture, and that it will offset depression level events even if we do nothing. Else fiat is likely to be seen as better for a very long time.
We spent ten years to create a shit experience like lightning, and the famine is like tomorrow.
