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> Globalization of wealth is a result of treaties between sovereign nations. I think this is a questionable causal relationship. Globalization of wealth happen
by wyager 9y ago
> Globalization of wealth is a result of treaties between sovereign nations.
I think this is a questionable causal relationship. Globalization of wealth happened due to improved banking/monetary infrastructure; yes, governments giving permission for this to happen was a practical prerequisite, but I wouldn't say it's a "result" of international politics.
In fact, as we can tell from another article currently on the front page (about Chinese bitcoin miners), globalization of wealth eventually happens whether governments want it or not.
- ethbro 9y agoAccessibility of global wealth seems more important. In the age of sail, I'm sure one could have stashed gold in some backwater city, which would have hidden it very effectively from any government. But then you couldn't use it. The international banking & legal systems now enable those with means to both keep wealth away from governments while still maintaining access to it for practical purposes.