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Throughout history, countries have transitioned across these different types of systems for logical reasons. When a country needs more money and credit than it currently has, whether to deal with debts, wars, or other problems, it naturally moves from Type 1 to Type 2, or Type 2 to Type 3, so that it has more flexibility to print money. Then creating too much money and debt depreciates their value, causing people to get out of holding debt and money as a storehold of wealth and move back into hard assets (like gold and silver) and other currencies.
Principles for Dealing with the Changing World Order: Why Nations Succeed and Fail
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