Editor's note: This post was originally published on Patreon on 2 July 2018.
By the way, in the last post I failed to explain the European context. Why does this matter? It's not just about refugees. It's about German hegemony and European cohesion. Let me explain below.
The German Federal System
One thing a lot of people fail to appreciate is the degree to which Germany believes in federalism. And by that I mean that the whole German political system is set up to spread the wealth and to give equal treatment to all parts of the country, as much as is feasible. Everything in Germany is about the Bund, the Federation. You see that word "Bund" everywhere when it comes to German government activities.
So when it comes to refugees, the Germans spread the wealth too. Refugees are disper...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.