Random Thought

In a gross oversimplification,  the Spanish, despite plundering the new world first,  sent the majority of their wealth to the Catholic church. The British had no such obligations and managed to encompass the globe and all the riches therein. Where, then, is all that wealth? Has it all been liquidated post WWI and WWII?

3 thoughts on “Random Thought

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  1. Yes, lots of it where used during and post WW1 and WW2. However, they still have one of the largest economies in the world (fifth as of 2016), which would not be possible without their large wealth considering the huge loss they suffered. But, after the Brexit last year, their fate become uncertain once more.

    If you are interested about the history during the twilight period of the British empire, you can read more in Peter Clarke’s The Last 1000 Days Of The British Empire.

    Liked by 1 person

    1. Thanks for the recommendation! Love historicals. And true point about their economy. Depending on their future politics, Britain could tank or remain steady. Do you know of any books/resources that rank countries according to economy? I’m curious as to how similar 1st and 2nd tier countries measure up…

      Liked by 1 person

      1. For a list of the world’s largest economies, that’s easy. You just have to look at the GDP rankings:


        However, there’s more to it than GDP. For a clearer understanding, here are some books that I recommend (Note that I didn’t include any textbook. If you want to learn from a textbook, it’s hard to beat Mankiw’s Principles of Economics.):

        The Economics of Life: From Baseball to Affirmative Action to Immigration, How Real-World Issues Affect Our Everyday Life (Becker)

        The Wealth and Poverty of Nations: Why Some are So Rich and Some so Poor (Landes)

        Basic Economics: A Common Sense Guide to the Economy (Sowell)

        Why Nations Fail: The Origins of Power, Prosperity, and Poverty (Acemoglu)

        There are more, but those are the books that I could think of now.

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