Overnight, doctors on the government payroll suddenly found themselves making ~half the salary of an illiterate army soldier! (The army was exempt, and their salaries remained untouched.)

The consequences on society: massive unemployment, exodus (first, the former middle-class...), promiscuity, alcoholism, nihilism, crime, deaths, all sorts of fraud and corruption. Many family structures have been irreparably destroyed. It was wild and chaotic!

The silver lining: people quickly realised that formal education was not for everyone and started exploring alternative paths, such as football, music, entrepreneurship etc. The Internet came and created new opportunities, and new hopes. I wish bitcoin could follow in its footsteps...