In this episode of the Paul Street Journal, we explore the unique economy of Vatican City State, a country that operates without levying taxes. Join us as we discuss how the Vatican is funded through various sources including donations, museum revenues, real estate, investments, and services. Learn about the role of Peter's Pence, the impact of commercial activities, and the surprising financial management challenges faced by the Vatican. Understand the distributed monarchy model and how it diverges from traditional perceptions of financial funnels towards centralized power.
Chapters:
00:00 Introduction
00:40 How is the Vatican Funded?
05:16 Management of Vatican Finances
06:15 Monarchy
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