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“In some periods they explain practically all major events, and in most periods they explain a great deal … But even greater than the causal is the symptomatic significance of fiscal history. The spirit of the people, its cultural level, its social structure, the deeds its policy may prepare … all th...

“In some periods they explain practically all major events, and in most periods they explain a great deal … But even greater than the causal is the symptomatic significance of fiscal history. The spirit of the people, its cultural level, its social structure, the deeds its policy may prepare … all this and more is written in fiscal history. He who knows how to listen to its message here discerns the thunder of world history more clearly than anywhere else.”

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1/10 Adam's excellent piece on explicit and implicit fiscal transfers is interesting enough for students of Germany in the 1930s, but it is also relevant for those interested more generally in economics, and especially those following China. @adam_tooze

Great @adam_tooze essay on who really paid for the Nazi war effort, and the relationship between dictatorships, welfare, and entitlements: