The Fall of England - Dr David Starkey
TRIGGERnometry
Exploring the Perils of State Growth and Economic Decline
Excessive state growth can lead to significant economic decline, as demonstrated by Argentina's history of Peronism. In the late 19th century, Argentina boasted a wealth comparable to that of the United States, supported by vast natural resources and substantial British investments. However, post-World War II, the country increasingly embraced state control and welfare policies under leaders like Perón and Evita. This led to a bloated public sector characterized by relentless nationalization and an expansion of welfare, ultimately creating an administrative structure too large for its economic base. The Roman Empire experienced a similar downfall when its administrative needs surpassed its tax revenue, marking a pattern of states that become self-consuming. This phenomenon can also be observed in modern contexts, particularly following the financial crisis, where states have relied on inflation and money printing to sustain themselves, often at the expense of economic stability and value, resulting in asset price inflation rather than direct benefits to the populace.
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