Tuesday, October 16, 2012

The Enduring Fundamental Importance of Economics

Watching a recent program concerning the fall of ancient Egypt brought home the enduring importance of economics to understanding the sources of power of nations. For according to the program. The end of annual flooding of the Nile delta brought about the collapse of Egypt's agriculture within one generation and the nation's ability to feed itself. And thus its terminal fall from power. Ironically just this morning I saw a piece I believe on Bloomberg discussing the effects of recent climatic changes i,e, drought, on corn grown in Kansas. The corn belt is moving north.

It reminds us that United States economic power may also wane over time.

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