Urbanization, trade, print, literacy, mobility, and standardization create an early globalization that is psychologically frustrating and bewildering for ordinary people.
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A source-grounded reading of Jiang's central claim: late Inferno is where private vice hardens into social design.
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A source-grounded reading of Jiang's central claim: late Inferno is where private vice hardens into social design.
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"...in factories and not just in like steamships, but also in print. And this spreads literacy and information. So think of this as just..."
"...gold, right? If I add an intermediary step, which is like. Print money, then I saw the problem, right? I can use money to..."
"...secret of our world is that banks have a power to print as much money as they want."
"...national debt but if the banks really have the power to print as money as more money as they want why don't they just..."
"...right. It's very simple. I'm the US government. Okay? I don't print money but I need to spend money. So I borrow the money...."
"So despite that the Federal Reserve might can print as much money that they want but they still cannot solve this problem. Right? Because..."
"...that, but the Americans recognized that, you know what? We can print as much money as we want, so we can spend as much..."
"...global trade? Well, first of all, it means you have to print a lot of US dollars. Okay? Access liquidity. Okay? You have to..."
"...force withdrawal. Which means that you just deny America's capacity to print money. And the way you do that is by destroying global demand..."
"...problems that arise. Okay? The first thing is that America will print more money."
"...not the government that issues currency. It's not the government that prints money. It's a banks, the private banks that print money. Okay. And..."
"...million dollars from the depositor but they also are able to print a million dollars to give to the restaurant entrepreneur does that make..."
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