Oddbean new post about | logout
 One of the root causes of the current system that rottens everything from politics to science common to every country and independent of any government, it's the fractional reserve banking. 

This non sense system allows the creation money by private corporations. Because this money is free gets allocated in the wrong places and investments, places were nobody will ever put their hard earn money, leading to the economic cycles of expansions and recessions, where wealth gets transferred from the middle class to people holding hard assets, making the gap bigger after every cycle.