"I don't believe we shall ever have a good money again before we take the thing out of the hands of government, that is, we can't take it violently out of the hands of government, all we can do is by some sly roundabout way introduce something that they can't stop." - F.A. Hayek 1984

(kinda) A great website to share if you have no idea how to explain the downfall of the US economy.

Edit: Thanks to everyone who provided insight on this website. I’ve had this in my bookmarks for a very long time and was curious how it held up.

    • oo1@kbin.social
      41·
      8 months ago

      I dunno i read all those graphs and think.
      Well there was a lot of banking deregulation from 1971 onwards?
      Let’s give that bank regulation idea another shot maybe - it can’t do worse.

      . . .but then i also think - good on china for that one child policy.

      I’m just not getting anywhere near the Hayeck conclusion from the same data.

      • Prunebutt@slrpnk.net
        8·
        8 months ago

        The take that the homepage is trying to sell you, hinted at by the Hayek quote.

        This homepage is usually posted by right wing libertarians.

        • oo1@kbin.social
          11·
          8 months ago

          Wow, they’re dumber than I thought if they think this makes their point.

          Although then again, their general ideals have swayed the more mainstream of many large western governments and international financial institutions for 40-50 years.
          So there must be something to this tactic of making a hotch-potch of random graphs.

          • orrk@lemmy.world
            2·
            8 months ago

            because the average statistical literacy is somewhere below the ability to point out Kirghistan?

    • RestrictedAccount@lemmy.world
      55·
      8 months ago

      What take? It is just a bunch of graphs.

      This may be the first time I’ve seen anybody say that facts have a libertarian bias.

      That is not the way I read the data.

      I see the boomers hitting the labor market and people with capital getting rich off the depressed price of labor.

      • Prunebutt@slrpnk.net
        15·
        8 months ago

        It’s a common homepage linked by libertarians in an argument.

        Also: read the Hayek quote at the end. This homepage tries to sell youesomething and it an’t graphs.

      • orrk@lemmy.world
        1·
        8 months ago

        ah ya, “facts”, sure many of these graphs can be based on real data, hell maybe even all of them, but then you take a step back and look at these graphes, are the fun arrows and lines at 1971 actually meaningful? or are they there to try and use the data to shape an opinion? taking advantage of the average person’s statistic illiteracy, to push some form of partisan agenda?

        such as the first graph, we have a nice little arrow and a dot with the number 90.84% but the actual diverging of the variables doesn’t start until later, when exactly? you can’t tell because the graph only labels three data points on the X axis!, and this isn’t the only deliberately misleading graph here, that the authors are using to openly lie about the data to those who aren’t well versed in this stuff.

        facts don’t have a Libertarian Bias, but Libertarians sure are prone to spreading lies.

    • reddig33@lemmy.world
      45·
      8 months ago

      I’m not a libertarian, but something did go awry around that time. You can see it when you watch reruns of game shows like the price is right. Automobile prices double after a year, and then keep doubling.