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3min chapter
Is Sound Money the Answer? with George Gammon (WiM268)
The "What is Money?" Show
What Really Impacts Real GDP?
Government spending as a percentage of GDP went from 8% in 1900 to 20% by 1940. Even under a strict gold standard that we had with free banking in the 1800s, we still get a 400% M2. So if you consider that that is maybe not something that would be a constant, but it's definitely possible.
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