Comment on The 2 Simple Reasons the Soviet Union Was Doomed to FailparentComments−elblanco15yIf you look at global markets the same way, the fall of the Soviet Union was also remarkably localized, it's just that the Union and its Satellite states covered so much of the planet.−JabavuAdams15yAt that scale, this starts to be an abuse of the word "localized". If you look at anything from far enough away it seems insignificant.Scale matters. Most of the time when companies in a market system collapse, very few people starve or die.
Comments
If you look at global markets the same way, the fall of the Soviet Union was also remarkably localized, it's just that the Union and its Satellite states covered so much of the planet.
At that scale, this starts to be an abuse of the word "localized". If you look at anything from far enough away it seems insignificant.
Scale matters. Most of the time when companies in a market system collapse, very few people starve or die.