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The Origin of the U.S. Dollar as Legal Tender

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BEST READ OF THE DAY
Our vote for Best Read of the Day goes to the Credit Writedowns blog and Edward Harrison's piece, "The Origin of the U.S. Dollar as Legal Tender and its Link to Depression." The but of the thing is this:

"What should also be clear from this Great Depression and the one after 1929 is that booms which turn into extraordinary busts lead to populist outcomes and the rise of populist leaders which have unpredictable negative long-term consequences."

This is another good way to describe the impact social mood has on markets, social mood laying the groundwork for social action.

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