CHAPTER 2 Melancholia Madeleine and the Paradox of Trade

CHAPTER 2 Melancholia Madeleine and the Paradox of Trade
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California pistachio growers asked whether I would speak
Note:CONFERENZA DAGLI AGRICOLTORI

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it is economical today to import water from the South Pacific,
Note:SI COMINCIA CON L ESALTAZIONE DEL LIBERO SCAMBIO

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the miracle of new transportation

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the owner of FIJI Water!” Gulp. The man’s name was Stewart Resnick,
Note:L ACQUA CHE VENIVA DALLE FIJI ERA DI UN AMERICANO IN OUTSOURCING

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This is a new world, where nothing on earth is far away from our grasp.
Note:UN NUOVO MONDO DOVE TITTO È VICINO

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we may depend on a guy named Stewart, who lives in Beverly Hills, to send us bottles designed by a talented graphic artist and filled with water from the tropics.
Note:INCREDIBILE GLOBAL

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consumers are devoted to their favorites—even though the basic ingredient is supposed to be pretty tasteless.
Note:LO STRANO MERCATO DELL ACQUA IN BOTTOGLIA

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If a government—whether dictatorial or parliamentary—could deliver American fizzy drinks to its people, that government had a better chance of clinging to power.
Note:LA SUPERPOTENZA

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leftist critics called it “Coca-Colonization.”
Note:NEO COLONIALISMO

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bubbly dark drink based on the traditional kvass,

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IL COMPETITOR IN URSS

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In War and Peace soldiers call it “pig’s lemonade.”

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Their expectations were low.
Note:PEE CHI VA BENE

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sipping Coca-Cola while in Krakow, Poland. They threw him into jail for this sin
Note:SPIE RUMENE BECCANO IL POLACCO

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“beverage of capitalist sports.”
Note:ACCUSA

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swirl of Coca-Cola’s red-and-white stripes popped up on kiosks across the country, symbolizing freedom and access
Note:SIMBOLO...DAL COMUNISMO ALLA COCA

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motto coined by the poet Juvenal was “bread and circuses,”
Note:COME SI GOVERNA

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1999
Note:ETIOPIA BBC

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“Coca-Cola shortage is being treated as a national emergency,”
Note:ETIOPIA

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In the 1980 cult movie, The Gods Must Be Crazy,
Note:UNA COCA PERSA NEL DESERTO CORROME L ANACORETA

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It must be holy, a gift from the gods!
Note:COCA DONO DI DIO

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Eventually, the gift ruins his tribe’s harmony
Note:PROSPERITÀ E ROVINA

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Now we ask ourselves, how does globalization impact the harmony of a nation?
Note:PIÙ IN GENERALE

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can a nation live without globalization?
Note:DOMANDA A LATERE

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Nations cannot grow and stay rich without trading with others. But trading with others eventually shakes the customs and character of the nation.
Note:IL PARADOSSO DEL CAPITOLO

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for us it is the supersharp photos of a Samsung Galaxy
Note:AL POSTO DELLA COCA

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colored dots that emerge from Damien Hirst’s
Note:O

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“Have these global marvels interrupted our lives
Note:PERICOLO

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Nostalgic feelings
Note:ONNIPRESENTE

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Proust’s Remembrance of Things Past
Note:UN CLASSICO

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when he tastes a baked madeleine dipped in tea.
Note:UN BRIVIDO LO PERCORRE

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memories of his youth:

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it is worse for us today.
Note:OGGI PEGGIO

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we miss the cookie because Nabisco has displaced the baker!
Note:ES

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I call the feeling “melancholia madeleine,”

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Melancholia madeleine is a syndrome that makes it very difficult to keep a country together.
Note:COESIONE A RIS CHIO

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skilled and successful artisans quickly sell their businesses to bigger brands
Note:DI SOLITO

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it is tough to conjure misty-eyed nostalgia for a company like 10 Barrel Brewing
Note:NIENTE ROMANTICISMO CON LE MULTINAZ

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old nations like Ragusa and Venice that grew rich by trading and then fell apart.
Note:LA STORIA SI RIPETE

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the Habsburg Dynasty that ruled Austria-Hungary, crumble like a stale linzer torte.
Note:ALTRO ES

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globalized economy can sap patriotism.
Note:SEMPRE COSÌ

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same forces that ripped apart nations brought us longer, healthier lives and
Note:ANXHE DL BENE

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IT’S HARD TO GET RICH WITHOUT TRADE
Note:Tttttttttttttt

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Milton Friedman endorsed my first book,
Note:UNA VITA AD ELOGIATE I COMMERCI

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Friedman holds up a pencil as a symbol of the wonders of free trade.
Note:MERAVIGLIA

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Oregon
Note:TAGLIA L ALBERO

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need steel for the saw.
Note:IL METALLO X LA SEGA

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fly to an iron mine in Brazil

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to Pittsburgh to figure out how to turn iron ore into steel.
Note:FUSIONE

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metal tip,
Note:ZINCO GHIERA

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graphite center,
Note:ALTRO ELEMENTO

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rubber eraser.
Note:ALTR ELEMENT

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trips to Sri Lanka and Indonesia.
Note:PER LA MATERIA PRIMA

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learning all the chemistry, engineering, and foreign languages
Note:LA BASE

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thirteen cents
Note:IL COSTO CHE BAGHI X LA MERAVIGLIA

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attractive graphic printing
Note:IN PIÙ DECORATA

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not the iron miner, the tree chopper, the rubber farmer, nor the graphic artist ever has to gather together
Note:NEZSUNA ASSEMBLEA!!!!

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No central planning
Note:NO ORGANIZZ

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the “invisible hand”
Note:COORDINAM

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have you ever heard of a shortage of pencils? Or price-gouging by pencil makers?
Note:MAI

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an aspirin pill

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ES ANCORA PIÙ SOFISTICATO

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airline jet engine
Note:ALTRO ES.

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how many hours does an average person have to work in order to earn enough money to live and buy the stuff he wants?
Note:UNITÀ DI MISURA IDEALE

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1870
Note:PERIODO

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thirteen.
Note:INIZIO DEL LAVORO

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death,
Note:FINE LAVORO

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three thousand annual hours “on the job,”
Note:OGNI ANNO

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eighteen hundred hours of home chores.

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61 percent of their waking hours working.

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1950
Note:CFR

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17.6 years
Note:ETÀ INIZIO

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spent only 45 percent of their waking hours working.

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Today,
Note:CFR

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twenty,
Note:INIZIO

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sixteen years in retirement,
Note:ATTESI

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spend only 28 percent of our waking

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how purchasing power has soared.
Note:TTTTTTTTTTTT

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Mark Perry has done us the favor of flipping through old Sears catalogs to compare prices over time.
Note:CFR CATALOGO A DISTANZA DI TEMPO

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1959,
Note:TEMPO

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labor for over a hundred hours to afford a washing machine.
Note:100 ORE LAVATRICE

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Today, it takes less than one-fourth as many hours.
Note:OGGI

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a week of labor;

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note how poor households have benefited.
Note:BENEFICI CONCENTRATI SUI POVERI

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In 1971 only about 20 percent of American homes owned a dishwasher
Note:LAVATRICE

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40 percent watched television
Note:TV COLORI

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By 2005 about 40 percent of poor families had a dishwasher
Note:CFR

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nearly all had at least one color television.
Note:Cfr

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As recently as 1965 one-third of British families lacked a refrigerator, which explains a lingering tolerance for room-temperature beer.
Note:LA BIRRA INGLESEE

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Soviet Union
Note:I PAESI CHE RIFIUTANO IL COMMERCI

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failing to keep up with the standards of 1917 Russia.
Note:URSS...IL PROB NN ERANO GLI STANDARD USA

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Cuba’s GDP per capita was near the top of Latin America’s rankings.
Note:PRIMA DI CASTRO 1959

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Cuba slipped to the bottom.
Note:DOPO

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Castro’s supporters might blame the plunge on the US embargo, but that makes my point:
Note:APPUNTO!!!!!!

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since 1959 the standard of living in Latin America has doubled.
Note:DATO MEDIO

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Cuba’s per capita GDP has hardly budged.
Note:CFR

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Vietnam versus Burma; Bangladesh versus Pakistan; and Costa Rica versus Honduras.
Note:CFR SENZA APPELLO

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economy grows stale and fetid, much like a badly aerated terrarium.
Note:AUTARCHIA

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a dank prison,
Note:NORD COREA

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the north was slightly wealthier than the south.
Note:COREE

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today the south is seventeen times wealthier
Note:NNOSTANTE GLI AIUTI

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South Koreans live ten years longer

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several inches taller.

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executions without trial
Note:I RECORD DEL NORD

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infant mortality rate (six times higher).

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economists, make a big mistake when they think that a country’s wealth rests on its natural resources
Note:RICCHEZZZA E RISORSE

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Hong Kong is a pile of rocks.
Note:ES

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The Netherlands was a swamp.
Note:ACQUITRINO

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Israel was a desert

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THE FREE MARKET IS NOT A PAIN-FREE MARKET
Note:Tttttttttttttttt

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some people lose when a country opens its markets.
Note:AMMETTIAMOLO

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hard to find a shoe that is made in America.
Note:PURTROPPO

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countries need trade but trade can crumble loyalties.
Note:PARADOSSO RIPETUTO

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WHAT IS RAGUSA?
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During Renaissance times, the Republic of Ragusa was a glorious place
Note:DI COSA PARLIAMO

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Today, Ragusa has a different name, Dubrovnik, and each year 15 million tourists trample each other
Note:OGGI

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Serafino Razzi described Ragusa’s tasty wines, sweet pears,
Note:DOMENICANO DEL 1500

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Before most of Europe, Ragusa built sewer and drainage systems

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From 1358 to 1806 Ragusa displayed the word LIBERTAS on its flag
Note:SIMBOLICO

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only town along the Dalmatian coast not governed by Venice.

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frequently threatened by Turks, Venetians, and brigands
Note:NN UN PARADISO

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Ragusa built walls to protect itself

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To keep its independence the Ragusa republic relied on bribes, spying, trickery, and feigning.
Note:METODO

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“We the sworn servants of your majesty
Note:AGLI AUSTRIACI

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“We are always devoted to you.”
Note:CAELI V

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“Twelve galleys of the Pope have united with 49 of the King of Spain
Note:SPIATA AI TURCHI

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in the name of the whole Christian Republic . . . under the banner of Christ.”
Note:GIURAMENTO AGLI ASBURGO

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“We care more for the lowest of the servants and slaves of your Highness than for all the Christians.”
Note:AI TURCHI

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This duplicitous yet understandable strategy worked quite well
Note:DOPPIA FACCIA

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But in 1806 Ragusa collapsed before Napoleon,
Note:IL COLLASSO

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Ragusa did not fall because it was too poor. Ragusa fell because it was too rich
Note:TROPPO RICCA X STARE LIBERA

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Ragusa’s surging standard of living pushed down the birthrate,
Note:SPECIE TRA I RICCHI

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Ragusa’s libertas was indeed undermined by gold.
Note:STATO FALLITO...MA NN COME LA GRECIA DI OGI

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From throughout the world,
Note:DA DOVE ARRIVAVA LA RICCHEZZA?

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In the streets vendors squawked in Latin, Arabic, Russian, and a variety of African dialects.
Note:TUTTE LE LINGUE

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living went up, but communication grew tougher and loyalties frayed.
Note:RICCHEZZA SU RELAZIONI GIÙ

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Ragusa was not willing to defend itself
Note:SPESA X LA DIFESA

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witness decried the “blindness of the people and the bourgeoisie who receive the French with open arms.”
Note:LUIGI VILLARI SUI NAPOLEONICI A RAGUSA

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WHERE HAVE ALL THE HABSBURGS GONE?
Note:Tttttttttt

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all that is left of the Habsburgs is a homburg hat.
Note:DISINTEGRATO

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Austria, Hungary, Poland, Romania, Czech Republic, Slovakia, Ukraine, and the Balkans.
Note:DOMINIO

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reigned over most of Mitteleuropa, along the Adriatic through Ragusa down to Montenegro, and as far to the east as Dracula’s castle in Transylvania.
Note:REGNO

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an empire made up of too many peoples, too many customs, and too many lands.

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PERCHÈ ESPLOSI?

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Habsburgs disintegrated with World War I.
Note:I GUERRA

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Franz Joseph

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The economy had been growing fitfully in the late 1700s and early 1800s.

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Austrian weavers began to import British machines
Note:NEL OTTOCENTO

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government lifted tariff barriers
Note:1851

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abolished guilds,
Note:1859

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accelerated sharply between 1850 and 1873.
Note:MODRNIZZAZIONE

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Grunderzeit (literally, the “founder epoch”),
Note:NOME DEL XDIODO

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The opening of cafés symbolized rising disposable incomes.
Note:CAFFÈ FAMOSI

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galloping GDP,
Note:TRA IL 1870 e 1914

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fertility rate decreased from 1850 to 1910
Note:INDIZIO

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economy roared, expanding by 128 percent.
Note:1870 1910

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rising incomes sparked more ethnic conflict than stagnant incomes
Note:SCINTILLA

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When Prime Minister Badeni, a Polish count, proclaimed that all bureaucrats must speak German and Czech,
Note:DISORDINI CONTINUI

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With easier trade flows across borders, the population of Vienna multiplied fourfold between 1850 and 1910
Note:COSMOPOLITA

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even before World War I, the Viennese complained of a siege—but from fellow Austrians purportedly carrying diseases and lower wages.
Note:IL LAMENTO DELLA COSMOPOLITA

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deemed a “political unreliable.”
Note:CHI VENIVA DA FUORI

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fistfights among shoppers because newcomers “touch the merchandise, put it back, haggle over the price and then don’t buy it in the end.”
Note:TENSIONE

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“When Viennese musicians and singers perform in Budapest, it is a cause of public annoyance.”
Note:CAMPANILISMO

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SCOTLAND THE BRAVE AND CONFUSED
Note:Tttttttttttt

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rich nations have fewer babies and therefore require immigrants,
Note:PRIMO PARADOSSO...VEDI CAP PRECEDENTE

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get rich and stay rich, nations must trade with foreigners—are sparking nationalist and separatist movements
Note:SECONDO PARADOSSO QS CAPITOLO

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“We don’t want your United Colors of Benetton!”
Note:CONTRO IL MULTICULTI

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On September 18, 2014, the Scots rushed into voting

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ESEMP

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The independence movement received about 45 percent of the vote, an impressive performance considering that the Tory and Labour parties battled on the same side
Note:SUCCESSONE NONOSTANTE...

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businesses threatened to flee
Note:E NNOSTANTE...

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Scotland is far wealthier than it was in 1970 or 1950,
Note:LA POVERTÀ NN C ENTRA NULLA

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a large proportion of Scots believe that this wealth has come at too high a price:
Note:MA

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too many foreigners,

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too many able-bodied adults on the dole,

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resentment has intensified as Scotland has grown wealthier.

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The splintering forces of entropy, not economic desperation,
Note:FORZE DEL SEPARAZIONISMO

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FROM “MADE IN USA” TO “MADE WHEREVER IT’S CHEAPER”
Note:Ttttttttttttttt

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We have grappled with the idea of machines replacing people ever since the first ancient Roman
Note:DA SEMPRE

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used a plank and heavy stones
Note:I VIGNAIOLI

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asking women to stomp
Note:PRIMA

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rocks can replace feet in winemaking.
Note:CATONE IL VECCHIO PREOCCUPATO

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Taxi drivers do not like Uber
Note:IL DIBATTITO CONTINUA

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Soon Uber drivers will resent Google’s self-driving vehicles.
Note:UNA CATENA

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Workers feel threatened by a combination of foreign machines and foreign people.
Note:FOREIGN

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threatens to bleed patriotism out of nations.
Note:LA GLOBALIZZAZ

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We have moved from “MADE IN USA” to “MADE IN WHEREVER’S CHEAPER.”
Note:LA TRADIZIONE

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At first the outsourcing boom of the 1990s hurt only uneducated Americans who lost factory jobs
Note:PRIMA SOLO A BASSA ISTRUZ

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Then call centers in India wiped out Dell Health Care
Note:POI

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Indian radiologists can read a cancer screening just as well as an American,
Note:POI

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a Filipino accountant can fill out a 1040 tax return without missing a decimal point.
Note:POI

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McKinsey estimates that for every dollar of U.S. corporate spending in India, the United States gains $1.14.
Note:1 vs 1,14

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Let’s say that Santa Claus began delivering free toys and clothing all across the United States. Would the United States be better off?
Note:ESPERIMENTO MENTALE

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we could spend our time making other things,
Note:OVVIO CHE SÌ

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would everyone be better off? No.
Note:NO

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Employees of Mattel
Note:ESEMPIO

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Santa a particularly unfair trade competitor

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After the Civil War, for example, many New England textile factories slinked off to the South, taking jobs with them.
Note:UN PRECEDENTE

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Serenissima Repubblica di Venezia.
Note:UN NOME UN PROGRAMMA

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Despite foreign threats, Venice managed to bring riches to its citizens through shipping, banking, the spice trade, bookbinding, and glassblowing
Note:MINACCE

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what sector did Venice outsource, plunging the republic into mortal danger?
Note:QUESITO

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Venice outsourced their safety, their military.
Note:MERCENARI

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from France and Holland.

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if your enemy is willing to pay more,
Note:IL PDOB CON I MERCENARI

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when the Ottomans dangled more gold in front of the Venetian navy, the navy simply switched flags.
Note:IL MOMENTO DECISIVO

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Venetian senate then hiked taxes on workers and businessmen to buy back naval loyalty,
Note:TASSE SU

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Assaulted by pirates, in 1600 Venice’s shippers were forced to pay higher insurance premiums,
Note:ASSICURAZ

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In 1615 French mercenaries plotted to seize and blow up the doge’s palace
Note:RIBELLIONE

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Shakespeare wrote of Venice’s mercenaries in Othello.
Note:GIUSTO DUE ANNI PRIMA

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the real tragic history of Venice came from believing that military loyalty can be bought and secured,
Note:L ERRORE

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WHAT’S AN AMERICAN BRAND?
Note:Ttttttttttttttt

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only 43 percent of Millennials consider themselves “very patriotic,”
Note:PATRIOTTISMO

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United States should have a basic “American” culture and a set of values,
Note:VERO SOLO X IL 54

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it had grown richer by targeting China and becoming less American, but then became poorer because its new customers in China perceived it as too American.
Note:PARADOSSO YUM

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build other institutions that can bring people together in spirit and work.
Note:DI COSA ABBIAMO BISOGNO...

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For every Mark Zuckerberg in his dorm room, thousands of young men in hoodies are sitting on a sofa in their mom’s basement,
Note:TRADE OFF

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The maldistribution of income and work ethic breeds resentment and selfishness at both ends of the spectrum.
Note:DISTRIBUZIONE DI REDDITO...INTELLUGENZA VOGLUA DI LAVORARE...MALCONTENTO OVUNQUW...I RICCHI PENSANO DI MANTENERE TUTTI

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the top 10 percent pay over 70 percent of the taxes.
Note:I RICCHI TIRANO LA CARRETTA

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Young people and older people have lost confidence.
Note:FIDUCIA

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Baby boomers are growing nostalgic,

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only 29 percent think life has improved since the 1960s.
Note:MIGLIORAMENTI...USA

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shorter life of the 1960s appears to be a better life.

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VITA BREVE MA MIGLIORW