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Has there been a period in history where construction projects weren't financed by bank loans? I suspect we'd see more of that on a bitcoin standard.
Good question. For the public sector banks are rarely used it’s mostly tax payer dollars that pay for such projects but in the private sector I assume it depends on how well capitalized the companies are plus construction firms operate on very thin margins so they probably need access to highly liquid capital to pay employees and pay for equipment then pay the bank back once they get their payment from the project owner. Why so many firms abandon projects because they aren’t liquid enough to keep paying their employees.
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