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Daily reminder the first country to eliminate their central bank and allow free market banking will have the highest living standards on earth within 5 years.
Massive high paying service sector jobs with dominate this country's economy to consume the goods the rest of the world has to produce for it.
The workweek would shrink to 2-3 days a week and people would retire much earlier. This will also lead to more jobs becoming available.
Everyone would have high saving rates. Houses would be inexpensive. Debt would be strongly discouraged economically.
Massive automation would take place as the cost of capital goods would be extremely cheap. This will lead to massive levels of technological innovation.
It would be extremely easy for the average person to start a business due to the cheap cost of capital goods.
Daily reminder that real free markets have prices falling all the time instead is going up. We don't live in anything close to a free market.
Daily reminder America never had a system of free market banking. There were only patches of American history with free market banking. The panics that happened during the 1800s were due to government intervention in the banking sector. Sweden had the longest most successful period of free banking and that's what made them really rich.
Daily reminder the longest period of (relatively)free banking in America coincided with the INDUSTRIAL REVOLUTION where wages rose and prices fell.
Daily reminder central banks are the very reason the economy is a pile of shit and our generation is so fucked.
