For the greater part of recorded history the most successful and powerful states were autocracies; yet now the world is increasingly dominated by democracies. In A Free Nation Deep in Debt, James Macdonald provides a novel answer for how and why this political transformation occurred. The pressures of war finance led ancient states to store up treasure; and treasure accumulation invariably favored...
Paperback: 576 pages
Publisher: Princeton University Press; 1st Princeton Ed edition (May 22, 2006)
Product Dimensions: 6 x 1.4 x 8.9 inches
Amazon Rank: 2679999
Format: PDF ePub djvu book
reviews: It has been years since I read this book, but it transformed my entire outlook on macroeconomics. During the Napoleonic Wars, England had a robust public debt market while France did not. Hence, England could outlast Napoleon despite the latter's mil...
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