The David McWilliams Podcast Trieste and the City of the Future
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Jul 8, 2025 Despite rising incomes and government revenue, people feel financially squeezed. The discussion highlights the mismatch between growth in disposable income and soaring inflation, with younger generations struggling under high costs. As older homeowners benefit from rising asset values, younger folks face daunting rents and living expenses. The economic data suggests prosperity, yet the mood is pessimistic. Could it be that the real issue lies in our perceptions and feelings rather than the numbers?
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Trieste's Rise via Suez Canal
- Trieste transformed from a backwater to a major European city due to the Suez Canal opening.
- Local financiers heavily invested in the canal, boosting the city's global economic status.
Suez Canal's Trade Route Shift
- The Suez Canal rerouted global trade, boosting Trieste as a major port.
- This diminished Atlantic cities' dominance by shortening the route to India dramatically.
Cosmopolitanism Fuels Success
- Trieste thrived due to its cosmopolitan diversity and tolerance of different peoples.
- This fostered innovation and openness, crucial for economic and cultural success.
