3 ms·
Globalization overshot. It was mostly artificially propped up with the global fiat monetary system. Now that the fiat monetary system is running out of steam an
by cryptica 5y ago
Globalization overshot. It was mostly artificially propped up with the global fiat monetary system. Now that the fiat monetary system is running out of steam and heading into high inflation territory, we will revert back to a more localized world which most people will be happier in.
Many people nowadays were essentially 'forced' to move country or cities because of purely financial reasons driven by the money printers. This is all artificial and it will unwind.
- opportune 5y agoThis doesn’t make any sense. Parent is talking about how you can make a single product with a TAM of ~all of earths population. What does that have to do with money printing/fiat, besides perhaps causing an overvaluation? Even if those companies were overvalued, it doesn’t change the fact that technology and free trade enable hyper-scaling businesses.
- Apocryphon 5y agoPeople have been moving into cities since time immemorial. Small farmers would move to Roman cities in search of higher paying jobs, or the dole. The Industrial Revolution greatly accelerated urbanization. All of that predates fiat currency.
- spc476 5y agoYou don't need fiat currency---the Romans debased their currency just as much as we do today.
- cryptica 5y agoCurrency debasement always caused people to want to move to cities where the currency was being issued. Without currency debasement, people may have been incentivized in the past to move to cities for certain industries where knowledge was highly specialized (the company needed to be in a big city with many people in order to tap into a larger talent pool). Today, where most intellectual work can be done remotely, it doesn't make sense to move people geographically to specific geographic areas.