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b'"This context highlights the importance of the 1920\\u20131921 depression. Here the government and Fed did the exact opposite of what the experts now recommend. We have just about the closest thing to a controlled experiment in macroeconomics that one could desire. To repeat, it\\u2019s not that the government boosted the budget at a slower rate, or that the Fed provided a tad less liquidity. On the contrary, the government slashed its budget tremendously, and the Fed hiked rates to record highs. We thus have a fairly clear-cut experiment to test the efficacy of the Keynesian and monetarist remedies." \\u2013 Robert Murphy\\n\\nToday we dive into some economics with an example I have always liked from an economist who I always felt had a great way of explaining things simply. Robert P Murphy brings us a short, but strong argument on why the depression of 1920-1921 give us all the juxtaposition we need to disprove the long held beliefs of the Keynesians and the monetarists, and paint the Great Depression in a very, very different light. Don\'t miss it.\\n\\nChoice: https://www.amazon.com/Choice-Cooperation-Enterprise-Human-Action/dp/1598132180\\nUse of Knowledge in Society: https://open.spotify.com/episode/1991IXoqxFGOFrQoHnR9a2?si=cc26e6506fd24262\\nDeflation and Liberty: https://open.spotify.com/episode/7h4a74WEs1ShShtmzCQSC1?si=7c76419170014ffe\\nCheck out the original article at: \\nThe Depression You\'ve Never Heard Of: 1920-1921 - Foundation for Economic Education\\n\\xa0\\nGuy\'s Nostr Pubkey: npub1h8nk2346qezka5cpm8jjh3yl5j88pf4ly2ptu7s6uu55wcfqy0wq36rpev\\n\\nCheck out details on the Swan IRA! \\nDon\'t forget to check out our amazing sponsors:\\n\\u2022 Dive into the Bitcoin only wallet, the cypherpunk calculator, with the NEW Coldcard Q1! A company that has built secure Bitcoin products for nearly a decade. Code BITCOINAUDIBLE gets 9% off the ColdCard! (https://bitcoinaudible.com/coldcard)\\n\\u2022 Gets sats back every time you dump fiat at a store, to pay your bills, everything in your fiat life pays you sats with the Fold Debit Card and FoldApp. 20,000 FREE SATS! at (https://bitcoinaudible.com/fold)\\n\\u2022 The best place to onboard a true Bitcoiner - Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (https://swanbitcoin.com/guy)\\n\\n----------------------------------\\n"Society is division and association of labor. In the final analysis, there is no conflict of interest between society and the individual, as everyone can pursue his interest more efficiently in society than in isolation." \\u2013 Ludwig Von Mises\\nLearn more about your ad choices. Visit megaphone.fm/adchoices\\n\\n--- \\n\\nSend in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message'