Angus Maddison Quotes
To become a successful hegemon, it helps to be both very rich and very big.
Angus Maddison, Economic Historian, Quoted in “Hegemony or Empire?” Foreign Affairs, September/October 2003
Sourced by: Eigen's Political and Historical Quotations
If Moody’s downgrades a nation’s bonds, that country will have to pay much more for the money it borrows or the bonds it issues at best. At worst, the country will not be able to borrow any money. Almost all governments have to borrow short term and long term money to cope with cash flow from tax cycles and for many large capital expenditures.
Angus Maddison was a distinguished British economist specialising in quantitative macro economic history, including the measurement and analysis of economic growth and development.