Talk:History of the Ming dynasty

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{quote} Hongwu was unaware of economic inflation even as he continued to hand out multitudes of banknotes as awards; by 1425, paper currency was worth only 0.025% to 0.014% its original value in the 14th century.[13] {quote} Hey! that's only about 2% inflation a year, today a conservative inflation target that would achieve price stability at the cost of full resource utilization, i.e. employment.