SamuelRSmith said:
No, the value of money increases. If you have a currency backed onto a commodity, and the commidity suddenly increases, if you maintain a tight monetary supply, then the value of money skyrockets, and you'll be able to buy a hell of a lot with a single dollar.
No, socialism can be attributed to new technologies making central planning more feasible, and not enough controls over the expansion of Government. Unions emerged after 19th century capitalism... and I believe that private sector unions are a perfectly valid function of a democratic/capitalist society (public sector unions, not so much...), and are pretty much essential for workers rights. The end of socialism doesn't spell the end of private sector unions, which doesn't mean a reversion to the 19th century capitalism that we had, before.
And I meant, biggest mistake of the West/still going on, today. The only true communist nation left, in the world, is North Korea.
|
