Thoughts on the Decentralisation of Money 3: The Bretton-Woods Agreement

In my previous post on the history of modern monetary systems, I examined the gold standard regime that underlined international trade between leading world economies in the second half of the 19th and early 20th century. I will continue my historical investigation with the analysis of the Bretton-Woods system that established new norms and institutions, …

Books: Americana, a 400-Year History of American Capitalism by Bhu Srinivasan

Mayflower, early farmers, tobacco, taxes, cotton, steam, railways, gold, slavery, telegraph, beer, patents, oil, steel, machines, light, retail, guns, media, unions, meat, trusts, automobiles, fast food franchises, radio, banking, film, roads, computers, startups, internet, mobile... land of opportunities. Interesting facts: I was surprised to learn just how instrumental was the government (municipal, state and federal) …

Thoughts on the Decentralisation of Money 2: Commodity Currencies

In my previous post on decentralisation of money, I briefly examined the role of the state in domestic and international monetary arrangements through history. In a series of my next posts, I will delve into a bit more detailed history of the modern international monetary system, ranging from the gold standard regime to the contemporary …

Books: Homo Deus: A Brief History of Tomorrow by Yuval Noah Harari

Harari is exploring the next steps in the evolution of human, which he calls homo deus. If this is the future, it looks scary... Interesting thoughts: Humanity has successfully overcome wars, famine and plague. The reappearance of either does not reflect our inability, but rather our inefficiency. Consciousness as a mental pollution. According to the …

Books: The Great Crash of 1929 by John Kenneth Galbraith

Historical record of the time leading up to the great crash of 1929 and the immediate aftermath. What caused it according to Galbraith: Skewed distribution of income, where the top 5% got 30% of the income. Bad banking practices, that would work out well if the growth would continue. Unsound corporate structures, which allowed companies …