In ancient Greece there was a strong military state called Sparta where trade was forbidden for free citizens and the currency consisted of huge iron bars, making money circulation very difficult, creating a barrier to transactions. Sparta concentrated on warfare and was outlived by a more creative people, namely the people of Athens.
The third conventional explanation gives prominence to Australia’s external position - the current account deficit and the accumulation of foreign debt and other liabilities. This explanation emerges whenever the Australian dollar is falling, and then goes into hibernation whenever it is rising.