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> as countries defected and adopted mercantilist policies, the global system lacked sufficient authority to stop them. Each time another country adopted mercant
by tantalor 1y ago
> as countries defected and adopted mercantilist policies, the global system lacked sufficient authority to stop them. Each time another country adopted mercantilist policies, it pushed others to react similarly
This is just a prisoner's dilemma.
- moomin 1y agoA good way of understanding the function of the EU is as a way of negating prisoners dilemma effects, or at least externalising them.