Moving away from the developing nations. It is also time to point out that not only a developed nation, but one of the most economically powerful nations in Europe, Germany suffered an economic collapse in the 1990s that lasted nearly 6 years. Their GDP contracted by 25% during this period and also illustrates that economic collapses aren't always the short and extreme contractions that we see with nations like Japan or Argentina, sometimes they are a gradual decline in GDP.
What is most interesting is that an economic collapse doesn't always entail massive societal decay and unrest like we see in Argentina, though I am willing to go out on a limb and theorize that there was an increase in crime and some unrest, and it has a lot to do with the nature of the collapse. Is it simply a severe economic contraction? Is there hyperinflation? What other factors would contribute to making a bad situation even worse?
Wednesday, March 20, 2013
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About Me
- Cogitans Iuvenis
- Seattle resident whose real name is Kevin Daniels. This blog covers the following topics, libertarian philosophy, realpolitik, western culture, history and the pursuit of truth from the perspective of a libertarian traditionalist.
The west half took a hit. The east half (portion absorbed by the west in the 1990s) was very favorably impacted economically.
ReplyDeleteI can imagine. I've hard that some of the Germans in the west are still somewhat ambivalent about the move, but I don't know if that is true or not.
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