In this old book on page 116 they discuss the debts of the world.
What are your thoughts on how to calculate this today?
Private and Public Debt combined (?) and what metric would you use for (public & private perhaps) property value?
This is the subject of Rogoff & Reinhart's book This Time Is Different. They go through external, internal, and combined debts as ratios of GDP. AFAIK it's the book people read to understand this topic today. It's difficult reading, but if you're into this, give it a shot.
Hal wrote: ↑Fri May 15, 2020 9:18 am
In this old book on page 116 they discuss the debts of the world.
What are your thoughts on how to calculate this today?
Private and Public Debt combined (?) and what metric would you use for (public & private perhaps) property value?
Fantastic find! Of course the basis for the global economy and monetary system is completely different. But that book is a gold mine (pun intended) for those of us whose hearts reside in another era. See also this...
A quick glance suggests that this is a propaganda piece in the debate over monetary policy that dominated the American political landscape during latter third of the 19th century. Mr. Coin appears to be a champion of bimetalism (i.e. Free Silver). (Boo- hiss!)
