Great Oxford talk economic historians Robert Allen, on why the Industrial Revolution actually occurred in Great Britain, and not France or the Netherlands or China:
Hat tip Paul Kedrosky
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In any great organization it is far, far safer to be wrong with the majority than to be right alone. —John Kenneth Galbraith
Asian currencies continue to sell off vs the $ on the heels of the news yesterday that South Korea said they will look into hot money inflows stemming from the $ carry trade and the Bank of Indonesia said they are looking into the foreign buying of bills. This follows the news a few weeks ago that Taiwan was limiting foreign deposit holdings and Brazil was taxing foreign inflow transactions. As I mentioned yesterday, we may have reached a short term pain threshold in terms of $ weakness and foreign countries are fighting back as they certainly won't wait for...
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October 25th, 2009 at 1:21 am
[...] Weekend Videos Posted in Uncategorized by iyengarm on October 24, 2009 Why Industrial Revolution occured in Britain [...]