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Bonus: Damon Binder on Economic History and the Future of Physics
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Did the Industrial Revolution Cause Empire?
The first wave of colonialism is essentially mostly focused on the Americas and mostly driven by Spanish and Portuguese conquests. And it doesn't really seem like this enriched. So Spain was the most powerful country in Europe in the 1500s and by the mid 1700s, even. It had already sunk to being a third rate power. Even today, Spain and Portugal are amongst the poorest parts of Western Europe.
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