This critique also goes back to Socrates/Platos' story on the vote between the dentist and the sweet shop owner. Bribes with a year of sweets won the crowd over the dentists' rational guidance to fixing core problems.

Voting themselves into the reserves, or new mint, is one of a few ways democracies die.

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Indeed, the fall of the Roman Empire was in lockstep with the debasing of its currency!

That and complete human debauchery. Thatโ€™s assuming the Roman Empire story is even real.