> It's a cautionary tale and we should aspire to do better.

Why is it a cautionary tale? Sounds like we should have a bunch of incinerations of capital, ideally let the capital mobilizers that are actually competent survive.

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tikhonj 6 hours ago | parent [-]

"Let's have more world wars" isn't a great thing to aim for.

	▲	dnautics 5 hours ago \| parent [-]
		I'm suggesting deflationary contractions, but okay. Note that deflationary contractions in 1930 sucked because we didn't have solid supply chains, modern agriculture, liquid asset markets turbocharged with rapid information interchange etc. Might be worth trying in the 20X0s