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3 votes
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Uh-oh, the galactic bank just got blown up - what now?

Your Galactic Banking Plant has several functions. In no particular order of importance: Issuance of Credits, E-Currency accepted throughout the galaxy Galactic Stock Exchange, where the galaxy can ...
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  • 4,230
-2 votes

Uh-oh, the galactic bank just got blown up - what now?

The Problem: Nobody knows who has how much money, or what payments have (or have not) been made. Nobody can process payments, nobody is credit-worthy. For day-to-day troubles, you can google the ...
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1 vote

How much attrition could human civilization survive?

While a few hundred people in one area could allow the species to survive (a minimal viable population), it might take centuries or even many thousands of years for them to approximate the pre-event ...
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  • 11k
1 vote

How much attrition could human civilization survive?

Compared to pre-industrial levels, on average people in the world are smarter, more educated, and the world would have ample resources - so very little amount of people need to survive in order to ...
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  • 20k
0 votes

How much attrition could human civilization survive?

If the survivors were a group in a single area then 600 breeding pairs can perpetuate a culture and have enough genetic diversity to keep the species viable. If they were random people who survived in ...
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  • 19.9k
-2 votes

Feasibility of an industrial state using tax farming and monopolies for revenue instead of a modern tax system?

State Control of Gambling is the Answer Just restrict all gambling to the state, and then use lotteries, sports betting and casinos for revenue on top of what you already have. Run properly these can ...
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  • 1,168
2 votes

Feasibility of an industrial state using tax farming and monopolies for revenue instead of a modern tax system?

In addition to the excellent answers here, I think the "1870's US technology level" creates a problem also. The "tax farming" system worked (after a fashion) when the tax farmers ...
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  • 3,596
4 votes

Feasibility of an industrial state using tax farming and monopolies for revenue instead of a modern tax system?

Maybe? This depends materially on the colonies part of your "colonial empire", which you have unfortunately declined to describe in any detail. However, historically, among other reasons, a ...
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  • 5,991
6 votes

Feasibility of an industrial state using tax farming and monopolies for revenue instead of a modern tax system?

A rough guess says absolutely not Let's break down some ratios. The population, as you gave it, is of 20 million with a standing army of .5 million, or a 40:1 ratio for a standing army. In 1940, the ...
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10 votes
Accepted

Feasibility of an industrial state using tax farming and monopolies for revenue instead of a modern tax system?

Not possible, not even remotely possible The basic idea behind tax farming is that the Farmer General advances to the Treasury the estimated tax income, with the hope that the real tax amount will be ...
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  • 75.4k
5 votes

Feasibility of an industrial state using tax farming and monopolies for revenue instead of a modern tax system?

In my setting there is a colonial empire that has industrialized and extracts wealth from its urban holdings with the sale of tax collecting privileges to the highest bidder in a manner analogous to ...
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  • 11k
3 votes

What would a War time Economy look like in a modern, first world setting?

You specified that they are "not fully mobilized," which makes this difficult to answer. There are a range of options to pick from for your setting. Look at Russia, which seems to be in a ...
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  • 99.3k
1 vote

Why would currency retain value even after the kingdom that originally minted them is now gone

Peasants -- and the vast majority of your population are peasants -- don't care. It's coins. Such have always been used to buy and trade with. Most of them have no notion who the sovereign is even ...
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  • 21.9k
1 vote

Why would currency retain value even after the kingdom that originally minted them is now gone

Anything used as money needs to have 5 properties: Divisibility Portability Durability Recognizability Scarcity (high ratio of value to weight and volume) Silver and gold have been used historically ...
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3 votes

How to set up exchange rate between two very different world

The exchange rate would not get "set up", it would develop naturally based on supply and demand. Just like it happens with currencies on Earth. First, let's consider a scenario which does ...
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  • 43.8k
3 votes

How to set up exchange rate between two very different world

Same as with two countries The exchange rate between currency of any two countries changes day by day and is determined by bartering and supply/demand. Each country decides a rate they are willing to ...
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  • 44.4k
14 votes

How to set up exchange rate between two very different world

I think you're putting the cart before the horse The exchange rate from the magic world to the scientific world is trivial. It's impossible to believe your scientific world wouldn't have something ...
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  • 91.6k
3 votes

How to set up exchange rate between two very different world

I don't think exchange rates are the right way to think about this problem. When you say "exchange rate," I think of exchanging currencies. At the time I write this, the exchange rate ...
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7 votes

How to set up exchange rate between two very different world

A bit of a cop-out maybe but the Science world has a material cost listed for gold, silver, and copper. They can use that. Another option would be bartering. Ill sell you this spell-book of mine that ...
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