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In 1971, economist Nicholas Kaldor predicted the current problems we see arising from the American trade and payment system under the post-Bretton Woods dollar arrangement.(lemmy.ml)

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☆ Yσɠƚԋσʂ ☆@lemmy.ml
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☆ Yσɠƚԋσʂ ☆@lemmy.mlOP
10 points

lol yeah, basically any actual economist as opposed to a neoliberal propagandist understands this

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Maoo [none/use name]@hexbear.net
7 points

Indeed!

He’s even making references to Rome lol. Hudson just wrote a book about Rome and debt.

I guess the cool economists like to compare the US Empire to the fall of the Roman Empire.

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小莱卡@lemmygrad.ml
3 points

Well greece and rome are considered the cradle of western civilization, they ultimately will suffer the same end.

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☆ Yσɠƚԋσʂ ☆@lemmy.mlOP
2 points

While we should be careful making historical comparisons like that, there are many parallels. I find I like to look at this in terms of selection pressures. Once you see what factors are driving behavior it becomes clear where things are headed.

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