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That author can not have looked at any real, existing monarchies. Efficient is not a word that describes them. All decisions needed to be made by a small group means that all decisions needs to travel up through through the underlings to those high-level aides, who in reality will be focused on how every decision affects their position in relation to the king.

And then this:

"When an economy doesn't have enough energy, its self-organizing feature starts eliminating pieces of the economic system that it cannot support. The financial system tends to be very vulnerable because without adequate economic growth, it becomes very difficult for borrowers to repay debt with interest. This was part of the problem that Greece and Spain had in the period when their energy consumption per capita declined. A person wonders what would have happened to these countries without bailouts from the European Union and others."

Yeah, no that is not it. Spain and Greece got economic problems because of the conditions of the so called "bailouts" which in reality were bailouts of French and German banks through those economies. And with austerity came lower energy consumption. The author may not know that, but you do. Right?

by fjallstrom on Sun Apr 14th, 2019 at 10:56:17 PM EST
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