Most people don’t understand stocks, and see such investments as gambling. Whereas, if you spread your risk, it’s as safe as depositing money in a building society, with a far better rate of return. (View Post)

In 19th century Britain, it was a consequence of the growing power of the lesser gentry and new middle classes. Gregory King made a fine distinction between the great and the merely rich. The great c… (View Post)

Funnily enough, the East India Company sank into insolvency quite soon after it started to rule, as opposed to just trading. The cost of maintaining a large standing army was ruinous. I think that th… (View Post)

@JosiasJessop I don’t think that wars of conquest have been cost-effective, for a very long time now. Plunder economics provides a one-off gain, and that’s it. Trading with other nations provides a r… (View Post)

I have to admit, it was rather bizarre, the last time I visited the IWM, to see an exhibition dedicated to anti-war movements in the UK and CND. Whereas the point of the place is surely rearranging t… (View Post)