link to original reddit post by /u/bsoto01
I’ve been learning about Austrian economics lately, and the theories make a lot of sense to me. The only thing holding me up on separation of state and currency is the “recessions were more frequent in the 1800s” argument. If it is true that malinvestment is the cause of recessions, why were recessions so frequent before the fed was created? Apologies if this has been answered before, I just haven’t seem to come across a good explanation yet.