A Free Nation Deep In Debt, by James Macdonald

A Free Nation Deep in Debt: The Financial Roots of Democracy, by James Macdonald. An excellent history of Western Civilization from the perspective of public debt. Mr. Macdonald hypothesizes that the reason for the predominance of republics and constitutional monarchies is they have a better facility for borrowing during wartime. This is a thesis he ably proves, backed up by comparative statistics. This is a fascinating study, well-written, well-thought-out, educational and entertaining. Highly recommended.

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