The conversation between human and AI assistant.
Did the California gold rush in the 19th century cause serious inflation due to the rise in money supply?
I'm curious about the California gold rush in the 19th century. Did it cause serious inflation due to the rise in money supply?
That's an interesting question. The California gold rush did lead to an increase in the money supply as gold poured into the economy. However, its impact on inflation levels is debated among economists.