The Tyranny of Nations places the ground-shaking political and economic events of modern times in context. Palak Patel draws on his experience investing in government bond markets to demonstrate how the present fits a specific historical pattern that has defined the past 500 years. Modern-day trade liberalization and financial expansion all share distinct parallels with similar events in the 1600s and 1800s. Likewise, China's economic trajectory matches that of 19th-century Prussia and 17th-century France. And a certain British Prime Minister, foreshadowing Donald Trump's populism 150 years later, launched a similar attack on globalization after the financial crisis of 1866.
In The Tyranny of Nations, there are no "isms"—no capitalism, socialism, or feudalism—but instead, only privileged interests vying for power. Challenging both the mainstream and its critics, Palak Patel shows how an endless cycle of cooperation and conflict between nations drives societal change. This unique perspective on the intersection of macroeconomics, history, and politics offers the reader a compass for navigating the future.
Palak Patel spent nearly a decade as an investment analyst in the Emerging Markets group of one of the world’s largest asset management firms. As the lead analyst on Latin America and South Asia, Palak oversaw some of the largest bond and currency investments in emerging and frontier economies. His role also saw him travel extensively to these countries to participate in macroeconomic policy dialogue with finance ministers, central bank directors, and IMF officials. Palak graduated from Harvard in 2011 with a Bachelor of Arts in Applied Math in Economics and a Master of Arts in Statistics.