And that is because people keep falling for the same bad ideas.
In this terribly enlightening article Doug French discusses the history of John Law’s inflation scheme that the money-desperate French government latched on to after the death of Louis the Fourteenth in 1714. As you read about the avarice of the state and its impact on ordinary productive people, it’s impossible not to see the parallel with the situation we face today. But in case you miss that, the author connects the dots.
Most of our 20th and 21st century presidents have had a lot in common with Louis the Fourteenth.
