"Excessive
preoccupation with finance and tolerance of debt are apparently typical
of great economic powers in their late stages. They foreshadow economic
decline."
- From Kevin Phillips in Boiling Point: Republicans, Democrats, and the Decline of Middle-class Prosperity (1993), quoted by Giovanni Arrighi.
Tuesday, January 18, 2022
"preoccupation" with finance, "tolerance" of debt
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