How Paper Money Led to the Mongol Conquest: Money and the Collapse of Song China.

This essay argues that China's Song dynasty collapsed not by the military misadventure but rather by an economically predatory government. Topics covered include the critical role played by the fiat currency, one of the most significant technological developments of the era, how inflationary deficit finance weakened the natural symbiosis between public administration and the private sector, and the underlying problems of the Song economy which crippled the Song administration.