Chapter 615: Chapter 188: The Wise Man

The economic crisis had even greater repercussions than Franz had estimated. As a result of the butterfly effect, the global industrial output was now significantly higher than in the same period of history, yet the market had not expanded by much.

After the outbreak of the economic crisis, all these hidden dangers had become exposed. By the end of 1876, the economic crisis had crossed oceans and spread to the American Continent.

The first to be affected were not the capitalists in the North but the planters in the South.

The decline in textile production was not unique to Austria, as it was the same throughout Europe, leading directly to a decreased demand for cotton. This resulted in the first large-scale stagnation in the sales of Southern cotton.

What seemed like an ordinary event had far-reaching implications. Calls emerged within the United States of America for the development of their own cotton textile industry, and some people had already started taking action.