The Phaserl


The Thucydides Trap or the Coming War with China

by Bill Bonner,

Athenian historian, political philosopher and general Thucydides (c. 460 – 395 BC). He authored The History of the Peloponnesian War, which recounts the war in the 5th century BC between Sparta and Athens. Today Thucydides is considered the father of scientific history (he was the first historian to focus on meticulously gathering evidence and leaving intervention by the gods out of historical accounts) as well as the father of the school of political realism, who was the first to study relations between nations on the basis of their relative economic and military power.

From Hegemon to Also-Ran

Somehow, like it or not, the world turns. Today’s hegemon becomes tomorrow’s also-ran. Today’s reserve currency becomes tomorrow’s toilet paper. Today’s cock o’ the walk becomes tomorrow’s dinner.

Hey, we didn’t create this system. We don’t even especially like it. But that’s just the way it is.

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