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Kevin Beck's avatar

"Economics in One Lesson" is a very important book to understand. It was one of the two books I used for teaching my Introduction to Economics to high school students; the other was "The Wealth of Nations".

I would postulate that central banking was one of the major institutions of "progress" that helped create the boom-and-bust cycle of small-town America, as it helped draw wealth away from many different cities that were created in the 1800's and toward Washington, DC in the 1900's.

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