
10.58- Inflation and Scarcity
Revolutions
The One Two Punch That Will Knock Out the Roman Offs
Inflation and scarcity. This is the one two punch that is going to knock out the roman offs. So let's talk about them fighting, or means, paying for war. The russian government did several things to meet their financial obligations. They contracted some foreign loans, mostly from britain. And they issued war bonds like all the other great powers. But none of this was quite enough. In fact, in one critical area, they actually managed to knock out a significant pillar of their annual tax revenue. We'll talk about that in a second.
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