Debt, Austerity, and the Decline of a Global Superpower | Ben Studebaker
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Debt, Austerity, and the Decline of a Global Superpower | Ben Studebaker
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About this listen
In the 19th century, Great Britain found itself saddled with debt after funding the Napoleonic Wars in continental Europe. In this episode, Ben Studebaker and Dan revisit how austerity measures taken by the British government ultimately led to its decline as a world power, how falling into the trap of "sensible spending" often forgoes investments for the future, and how the United States could fall into the same trap.
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