Before I start reading this, can I just point out that Conrad Bastable is a magnificent name that could fit in almost any literary genre...?
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Wonderful *wonderful* essay. I wonder how much of the phenomenon applies also to countries acting as monetary unions. Say, SV/NY raising the value of the dollar and the rest of the country losing competitiveness. (in the results, not in the motives, of course)
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I think that same phenomenon happens in exactly the same way in individual countries -- the principles at play don't much care how big your union is :) That's what I was trying to get at near the end with my note on the UK becoming a "one-city-nation"...
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moreover, the correct context for The Simpson's invented word: "Click to embiggen"
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A great technical explanation of the German economic machine and how it benefits being in the Euro and it’s reliance on exports- it make desirable goods at “discounted” prices = huge imbalance in the Euro zone - could be described as Mercantalism if viewed as deliberate
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I spent lot of time working between W Germany and the UK in the 1980s. There was no respect for engineering or manufacture in the UK despite World leading expertise. W. Germany revered it's engineers and manufacturing. The UK burned a brand, the Germans reinforced theirs.
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Superb read, thanks for sharing.
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Vorsprung durch Technik.
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Great post - this is what I come to Twitter for!
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