The New Book That Scares Big Tech
Summary
Liaquat Ahmed discusses his book 1873, drawing parallels between the 19th-century railroad bond boom and today’s AI infrastructure spending. He details how Jay Cook and the Rothschild family financed massive projects, leading to a global financial crisis triggered by the Vienna stock crash and Germany’s demonetization of silver. The episode explores how this economic collapse fueled antisemitism in Europe and the rise of Jim Crow in the US. Ahmed argues that while the private sector overbuild, the resulting depression was exacerbated by poor monetary policy and geopolitical tensions, offeri…
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