Vaagmi
0
This is interesting and scary. Read it.
Statisticians have good reasons to be wary of outliers. But extreme events do offer useful lessons. Consider what happened in Zimbabwe after 2008. Hyperinflation saw prices double every day during the worst months. Manic money printing by the Robert Mugabe regime destroyed the purchasing power of the Zimbabwean currency. By some accounts, prices galloped at the fastest rate since the bout of hyperinflation in Hungary after World War II. The coda is being played out in Zimbabwe now. The government has decided to phase out the inflated local currency. Citizens can now exchange 175 quadrillion Zimbabwe dollars—or 175 followed by 15 zeroes—for a crisp US$5 dollar note. Lenin said the best way to destroy a country is to debauch its currency. Milton Friedman showed inflation is a monetary phenomenon. The sage advice of the communist and the monetarist was ignored in Zimbabwe.
the monetarist was ignored in Zimbabwe
