...Tax and Monetary Issues in the Constitution, Others (2)
For some Delegates, taxes were all that mattered.
Westphalia: Church Politics Adjusts Boundaries, Then Everything Changes
In 1648, the Treaty of Westphalia created the modern nation-state.
International Monetary Crashes
For international central banking, you need multiple nations with stable boundaries. Re-adjusted peacefully, fixed boundaries promote more durability than wars and whims of emperors. Modern central banking therefore traces to the Treaty of Westphalia, 1648, when the Holy Roman Empire reorganized and, seemingly, industry flourished. Useful theory emerged during the American Revolution, originally as wartime contrivances devised and tested by the Philadelphia patriot, Robert Morris.
World depressions usually change world economics. Even if they don't, they are too complex to be reversed by simply retracing the steps which caused the trouble, particularly if the people in charge misunderstand what is happening. At least, it is much too simple to imagine inflation is a straightforward cure for deflation.
Originally published: Thursday, January 04, 2018; most-recently modified: Wednesday, June 05, 2019