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Your Book Review: Cities And The Wealth Of Nations/The Question Of Separatism

Astral Codex Ten Podcast

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The Import Replacement Process

Jacobs: Currencies function as automatic tariffs to protect local industry from foreign imports. But in large nations, which remember are not the fundamental unit of economic life, they mess everything up. When exports decrease and a trade deficit begins, Venice is less able to afford resources and manufactured goods it used to import. Jacob's hypothesises that this issue of national currencies is at the root of every large country's economic troubles.

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