Adam Davidson

This bloke reports on financial matters for NPR.

For the last several centuries, for the most part, most of the wealth in the world stayed in Europe, then started moving to the United States.

Jeepers. Very little wealth "moved". More was created.

That he starts out from the zero sum position tells you all you need to know about the economic and finance coverage of NPR really.

2 thoughts on “Adam Davidson”

  1. That’s generally correct, Tim–but there is an episode in which you might speak if a significant
    out-transfer of wealth from Europe to the U.S. of a one-sided nature.

    I’m referring to the period following 1849 and the big gold (and silver) discoveries in the American West. The influx of new precious metal had an effect similar to that of inflation or counterfeiting: European business shipped far more product in our direction than they would’ve had they had a better idea of the volume of “incoming.”

    I remember reading somewhere, years ago, that something similar occurred , where, after discovery of the Americas, Spain was able to buy lots of stuff from the rest of Europe at the “old,” prevailing gold value while they were bringing in tons from South and Central America and before the rest realized they were dealing with “cheaper” gold. (And even more striking is that most–about 90%–of all that they shipped went (and mostly remains) at the bottom of the seas.)

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