The Tyranny of Nations: How the Last 500 Years Shaped Today’s Global Economy

Product Description

What is the right analogy for the present?

The
Tyranny of Nations places the ground-shaking political and economic events of modern times in context. Palak Patel draws on his experience investing in government bond markets to demonstrate how the present fits a specific historical pattern that has defined the past 500 years. Modern-day trade liberalization and financial expansion all share distinct parallels with similar events in the 1600s and 1800s. Likewise, China’s economic trajectory matches that of 19th-century Prussia and 17th-century France. And a certain British Prime Minister, foreshadowing Donald Trump’s populism 150 years later, launched a similar attack on globalization after the financial crisis of 1866.

In
The Tyranny of Nations, there are no “isms”—no capitalism, socialism, or feudalism—but instead, only privileged interests vying for power. Challenging both the mainstream and its critics, Palak Patel shows how an endless cycle of cooperation and conflict between nations drives societal change. This unique perspective on the intersection of macroeconomics, history, and politics offers the reader a compass for navigating the future.

Review

“There is a lot to be learned from the cyclical histories of the rise and fall of empires. But the vast majority of works on this very contemporary subject are hopelessly compromised by Stone Age economics and foolish theories of mass politics. Palak Patel’s 
Tyranny of Nations is different. He has absorbed the lessons of Keynes and Minsky, and his book’s treatment of international finance and political change is both readable and far more sophisticated than other work on the subject.” 
–Thomas Ferguson, author of Golden Rule and Director of Research, Institute for New Economic Thinking.

“The history of capitalism is a sequence of the rise and fall of hegemonic powers. Palak Patel’s 
Tyranny of Nations gives us an account of the rise and declines of the Netherlands and United Kingdom, and offers insights into the possible future of the United States.”
–Dean Baker, author of Rigged and Director of the Center for Economic and Policy Research.

“An impressive book on politics and economics across the periods marking the global preeminence of the Dutch Republic, the British Empire, and, today, the United States. There is much to be learned, and Patel interweaves the historical forces shaping the rise and decline of globalization and autarky with concurrent political gyrations, making us think more deeply about the present and possible futures.” 
— James Leitner, President, Falcon Management

“Patel’s fascinating book offers a dark look at what the future can hold…it is up to us to make sure it does not materialize.”
–Marc Chandler,  author of Political Economy of Tomorrow.