Gonzalo Lira puts forward an argument that democracies will always go bankrupt. I am pretty sure I don't agree with it wholeheartedly, but it is an interesting read. I'm not entirely sure what my argument against it would be. Always is over-broad, democracy is too narrow? Worth reading through for sure.
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TheBurningPlatforn's tail of Bernanke's grandmother screwing may be explained by GL's argument?
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