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What’s the counter to the standard “nation-states do not run like family budgets, especially when the nation-state is the global hegemon”? Or “Owe your banker £
by Apocryphon 1y ago
What’s the counter to the standard “nation-states do not run like family budgets, especially when the nation-state is the global hegemon”? Or “Owe your banker £1,000 and you are at his mercy; owe him £1 million and the position is reversed.”?
- pacoWebConsult 1y agoThat at every point in the past and almost certainly in the future, global hegemons don't stay that way once their currency is sufficiently devalued and no longer held as the reserves of other nations.