fromFortune
5 days agoThis economist studied 400 years of recessions. His bleak conclusion: stop trying to predict them | Fortune
Atlantic piracy had reached its peak, blockading the port of Charleston and choking off trade routes from the Caribbean to Long Island. Trade collapsed. The money supply collapsed. The economy followed. It's the kind of cause-and-effect that doesn't fit neatly into any business-cycle theory.
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