The Financial Decline of a Great Power is popular PDF and ePub book, written by Guy Rowlands in 2012, it is a fantastic choice for those who relish reading online the Uncategoriezed genre. Let's immerse ourselves in this engaging Uncategoriezed book by exploring the summary and details provided below. Remember, The Financial Decline of a Great Power can be Read Online from any device for your convenience.
The Financial Decline of a Great Power Book PDF Summary
The financial humbling of a great power in any age demands explanation. In the War of the Spanish Succession (1701-14) Louis XIV's France had to fight way beyond its borders and the costs of war rose to unprecedented heights. With royal income falling as economic activity slowed down, the widening gap between revenue and expenditure led the government into a series of desperate expedients. Ever-larger quantities of credit, often obtained through fairly novel and poorly-understood financial instruments, were combined with ill-advised monetary manipulations. Moreover, through poor ministerial management the system of earmarking revenues for spending descended into chaos. All this forced up the cost of loans, foreign exchange, and military logistics as government contractors and bankers built the mounting risks into the price of their contracts and sought to profit from the situation.
Detail Book of The Financial Decline of a Great Power PDF
- Author : Guy Rowlands
- Release : 28 September 2024
- Publisher : Unknown
- ISBN : OCLC:802686068
- Genre : Uncategoriezed
- Total Page : 304 pages
- Language : English
- PDF File Size : 11,9 Mb
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