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lkrubner · 2023-01-08 · Original thread
Perhaps this happens on a diversity of time frames and in a diversity of contexts? The French historian Fernand Braudel says that during the 1600s the European merchants in India deliberately bought more than they sold, so that Europe was running a trade deficit with India for all of the 1600s. But offering so much money to India meant that India opened up to European merchants, who were then able to turn the situation around during the 1700s. Once they had been invited into every city and every kingdom in the sub-continent, the European merchants were then able to use their international networks gain an advantage over the local merchants. And then they added even more pressure by hiring local mercenaries to enforce their will with military power, thus beginning the conquest of India.

But the pattern seems to repeat on so many levels, and at so many different time frames: pump in money in a manner that seems generous, so as to gain control of a market. Then use that control to maximize one's own profits.

history from Perspective Of The World:

lkrubner · 2022-10-05 · Original thread
Before 1800, and especially before 1500, the monetary economy was so small, and the barter economy was so large, that these economies did not have recessions as we understand them today. A modern recession, as we've understood them for the last 200 years, can only exist in a society that has largely converted all economic activity to the monetary economy, and thereby made it vulnerable to the money cycle. If you're interested in the emergence and development of the monetary economy the best books ever written on the topic are Fernand Braudel's history:

I strongly recommend these books.

If you're interest is more about the classical Western period, I recommend:

lkrubner · 2019-02-05 · Original thread
Fernand Braudel had the biggest impact on how I think about history and the creation of the modern world:

In particular his focus on the structures of every day life:

And his focus on the importance of trade among the different parts of the world:

More here:

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