1688/9. I'd forgotten how much the Glorious Revolution changed England, and laid a foundation for development. It's amazing to review that. The monarch's arbitrary power was curtailed. At the time that was the norm, so changing that was a big deal. Real political power shifted to Parliament, which was opened to the middle classes, meanin…
1688/9. I'd forgotten how much the Glorious Revolution changed England, and laid a foundation for development. It's amazing to review that. The monarch's arbitrary power was curtailed. At the time that was the norm, so changing that was a big deal. Real political power shifted to Parliament, which was opened to the middle classes, meaning laws started to reflect not only necessary mercantile concerns, but also the concept of citizens' rights, as in 1689's 'Bill of Rights'.
It's fascinating that our current globalization is not about modernization, it's the inverse of the Glorious Revolution, in effect a gradual re-feudalizing of first world societies and economies by rolling back the changes of that revolution. Citizens' economic rights are being taken away piecemeal. I was shocked at how laws governing citizens' ostensible wealth held in equity markets have been re-written to make it accessible to cover monumental losses in derivatives markets.
1688/9. I'd forgotten how much the Glorious Revolution changed England, and laid a foundation for development. It's amazing to review that. The monarch's arbitrary power was curtailed. At the time that was the norm, so changing that was a big deal. Real political power shifted to Parliament, which was opened to the middle classes, meaning laws started to reflect not only necessary mercantile concerns, but also the concept of citizens' rights, as in 1689's 'Bill of Rights'.
It's fascinating that our current globalization is not about modernization, it's the inverse of the Glorious Revolution, in effect a gradual re-feudalizing of first world societies and economies by rolling back the changes of that revolution. Citizens' economic rights are being taken away piecemeal. I was shocked at how laws governing citizens' ostensible wealth held in equity markets have been re-written to make it accessible to cover monumental losses in derivatives markets.
EXACTLY. And bloodless compared to the French.