more from Yuval Noah Harari

Single Idea 20684

[catalogued under 25. Social Practice / E. Policies / 4. Taxation]

Full Idea

The European conquest of the world was increasingly financed through credit rather than taxes. …Nobody wants to pay taxes, but everyone is happy to invest.

Gist of Idea

Financing is increasingly through credit rather than taxes; people prefer investing to taxation


Yuval Noah Harari (Sapiens: brief history of humankind [2014], 16 'Columbus')

Book Reference

Harari,Yuval Noah: 'Sapiens: a brief history of Humankind' [Vintage 2014], p.353

A Reaction

This is presumably the mechanism that drives the unstoppable increase of the gulf between the rich and the poor in modern times. With investment, the rich get richer.