Erik Dahlman, Chapter 10

One particular passage that stuck out to me as I read was the description of how a monetary policy was "bungled" leading to destabilization of the world economy leading to chronic deflation leading to the great depression, the Nazi revolution, and World War II. The fact that a simple policy can alter the course of world events to such a degree is astonishing to me. Through this, I realized how far reaching economic policy can actually be beyond just the world of markets and money.