MOUNTAINEERING AFRICA

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THE MODERN NATION STATE

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THE MODERN NATION STATE

from its very beginning, it was highly dependent on capitalist finance,whilst capitalisation was similarly reliant on state power.

Indeed, it was this fusion
between them, which gave rise to the first form of modern capital.

the government bond –
whose very essence was
the private ownership of
the government’s power to tax.

Since then the overlap grew
deeper and wider,
with an increasing proportion
of capital-values depending on,
and in turn dictating the nature of key political institutions and organizations.