Other centuries must have been remarkably peaceful, since by your assertion they did not have bubbles, pandemics, wars, or geopolitical schisms...?
It's enough to say that fiat currency, fiscal and monetary policy have papered over the worst of the excesses and explosions, you don't need to pretend like we live in unique times. Every time is unique, but history rhymes.
??? The previous argument was on the pace of boom and bust cycles. This argument is on their existence.
We don't even have the same kinds of boom and bust cycles. There is no dustbowl, and we've recovered from incredible calamites well compared to the disasters in the past. Spain hasn't ended up destroying its entire wealth by finding too much wealth for example.
I'm making the mistake of getting into detail with a point that is so out of bounds, its in "not even wrong" territory.
