The Annals of the Flame Kingdom (LN)


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Our hero, “Matsushiro Kota,” is an ordinary salaryman brought to a world similar to medieval period Europe! This world does contain empires that propagate evil to destroy humanity; this is not a story about that which disturbs the laws of the universe, but about a peaceful place in the “Orukena continent,” plagued with a problem bigger than anything else…… deficit government bonds! A tr*shed economy!!!

Crashing stock prices, the storm of debt defaulters occurring with the currency collapse, the failure of derivatives, conservative mainstream of the Senate, elder statesmen, who, with cunning and harassment, further the state of famine and war. It’s a time where the sword cannot aid in solving problems, but for the inherent wisdom and courage to rise above all

……You are now witnessing history in making.

Associated Names
One entry per line
Fureimu Oukoku Koubouki (LN)
The Fall and Rise of the Flame Kingdom (LN)
フレイム王国興亡記 (LN)
Related Series
The Annals of the Flame Kingdom (WN) (Web Novel)
Genjitsushugi Yuusha no Oukoku Saikenki (2)
Common Sense of a Duke’s Daughter (LN) (1)
Common Sense of a Duke’s Daughter (1)
Maoyuu Maou Yuusha (1)
Recommendation Lists
  1. LNovels for me 2

Latest Release

Date Group Release
05/04/19 daikyuntl c3 part4
05/04/19 daikyuntl c3 part3
08/23/18 daikyuntl c3 part3
06/05/18 daikyuntl c3 part2
06/05/18 daikyuntl c3 part1
04/20/18 daikyuntl c2 part9
12/20/17 daikyuntl c2 part8
11/10/17 daikyuntl c2 part7
10/20/17 daikyuntl c2 part6
09/12/17 daikyuntl c2 part5
08/31/17 daikyuntl c2 part4
08/18/17 daikyuntl c2 part3
08/04/17 daikyuntl c2 part2
07/02/17 daikyuntl c2 part1
06/15/17 daikyuntl c1 part3
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flyerton99 rated it
November 6, 2021
Status: c3 part4
In short, if you're looking to read this to get a sense of Economics, Finance, or Stewardship, don't bother. This is because of two things. One, the author is spending far too much time on s*upid "comedy".

An example this is from (c2 part2), the Main Character is Kouta and Noel is a Duchess escorting him back to her territory:

「T-that's... ... Even so, please allow me to use my normal way of speaking... ... and about those 『night matters』...... 」

「... ... ... ... ... ... Eh?」

「L-Lotte-sama extorted me! He said; 『Listen well, Noel. Never let Kouta-dono feel bored at all. No matter day... ... or night, you must serve him well』!」

Kouta stared blankly back at her. As if not noticing Kouta's reaction, Noel let tears drip down from her chin onto the floorboard of the carriage.

「Uwuuuu... ... Just 2 years after reaching the royal capital and this happens to me? I thought I would one day fall in love at first sight with a handsome, cool, and rich knight in shining armor, get married, and pass on our beautiful looks! How would I ever imagine that this sort of thing would happen to me? Father, mother, Noel... ... Noel—!」


Of course, this is a misunderstanding that lasts the ENTIRE CHAPTER (Name a more common combination, a JP LN, and misunderstandings). This is not due to the unpolished translation because this lasts for an entire chapter.

The Main Character is a former Japanese salaryman, a banker. A 26-year-old man should be fully capable and mature enough to cut her off and calmly explain that she's misunderstood him. But no, we've got to have increasingly wild delusions continue, in the name of... comedy? Romance? I can't tell.

Speaking of bankers, as someone who was an Investment Banker, they're one of the better career choices to pick for this type of Finance-related story. With expertise in raising capital and a good understanding of finance, they would be an excellent choice to help a Kingdom out of a jam.

The problem is that the author makes the main character smart by making all of the characters around him s*upid.

Noel, the aforementioned Duchess, is thinking of ways to raise money for the development of her fief. They're deeply in debt and need cash to pay off their debt and invest in new development.

The solution of just selling some of her stuff never occurred to her. It's not because of reluctance, because when Kouta brings it up, she immediately agrees to sell them. (c2 part8)


「Yes, please do help me get rid of them. The house will become much more spacious too. It's pretty much killing two birds with one stone. 」


So instead of the main character looking smart by coming up with an unorthodox way to raise cash, it just makes the Duchess look like an abject moron for not considering that in the first place.

Instead of having the Duchess in trouble after already selling off most of her noble heirlooms, which would reflect that she cares deeply about her people and that she's actively trying, she instead just continues to let her country rack up Debt. Her Duchy's main source of "revenue" is borrowing money. (c2 part8)


「Our main source of revenue is 『loans』. 」

「... ... Loans? 」

「Yes. But I am not sure if that counts as a source of revenue... ... In short, a large portion od Terra's revenue is borrowed from the national treasury. 」

「... ... Local debt, huh? This is... ... 」

A local debt is a bond given out by a local administrative organization. In essence, it is a national debt. The reasons for issuing the loan is countless.

「To make up for deficits, right?」

「... ... It is initially. However, currently it is to repay our loans. 」

「This... ... This is a really bad development. 」


So you see how the fact that the main character comes in, and then asks her to sell off her stuff, doesn't make him look smart but makes the girl look like an absolute dumbass instead.

Another example comes in the same chapter. The Main character asks how their Duchy brings in money for real (i.e. Not loans), and she responds by describing their current tax regime (c2 part8)


「100 platinum coins for adults over 15 years of age, and 50 coins for children. Chambers of Commerce are counted separately and will have to pay two thousand platinum coins every year. 」


This is what is known as a poll tax, or, if you prefer something more descriptive, a head tax. This is a perfectly reasonable way to collect taxes and was widely used throughout history.

Her objection here is in line with one of the possible solutions, to raise taxes. She brings up how the tax rate is relatively low compared to other places. I would shut her down by saying that it doesn't really matter how much the tax rate is elsewhere, because other places aren't in crippling debt.

But what does our "smart" main character come up with? Well, he needs to end the chapter on a cliffhanger, so:


「Stop collecting taxes. 」

... ... A shocking one-liner.


I didn't add that one line there. The author deliberately chose to milk this out with dramatic pause and narration. Anyone with even half a brain cell could see this is a s*upid idea, so what do I see in the next chapter?


「It seems that way of wording it isn't so good. What I meant by 『stop collecting taxes』 is 『stop collecting taxes using the method of calculating by number of individuals』. 」


Okay, I'm assuming he's aiming to introduce another type of tax to raise more money, which is good, but there was no need to abolish the previous tax when you are in crippling debt and need every cent. The author could've just had the line right then and there, and we would've lost nothing except the other characters' justifiably shocked reactions to an utterly s*upid idea.

The novel then spends the next 1000 words talking about how taxation systems work. First by writing about the fairness and disadvantages of flat tax systems, and how a progressive tax system would be better:


「Even while ignoring profit, earning 2 thousand platinum coins is pretty much impossible. If we switch the tax rates, this problem will be solved. Plus, if we collect taxes based on how much they're earning, we are able to collect more from those who are more successful and earning more money, while collecting less from those who aren't. 」


Well, a progressive tax does result in collecting more money from those that are successful, but there's a problem if your area has no rich people in the first place.

And we can't get away without comparisons to Japan (because of course! The Japanese government, with its 300 Debt-to-GDP ratio is an EXCELLENT example of a country to use to get out of Debt) :


In Japan, the tax system being used is a progressive tax system, where those who earn more pay more taxes. In summary, it is a system where even if a person were to increase their workload by tenfold, the amount of taxes they must pay also increases by tenfold. In the eyes of salarymen, this isn't anything positive, because what they earn has decreased. This will cause people to not be incentivized to work, of course, not to the extent of becoming a second Ishikawa Takuboku.


This entire paragraph is wrong. Yes, a progressive tax system leads to people who earn more money to pay taxes, but are done in tax brackets with increasing rates. For example, someone who earns 1, 950, 000 Yen this year, will pay 5% taxes, or 97, 500. If he earns 19, 500, 000 instead, he only pays the higher tax rate of 40% on the 1, 500, 000 belonging to that bracket. This means he pays 5, 004, 000 in taxes. So his initial claim about increasing taxes by tenfold is wrong, because it isn't a flat tax.

But also, he's wrong about the disincentive to work too! People still make more money the harder they work! This is a point that a trust-fund rich kid would make while keeping wages low for his workers, that he's actually helping them out by giving them lower wages so they don't have to pay more in taxes.

Talk about shooting yourself in the foot. The more income you make, the money you have left over after essential expenses, which is what people are really concerned about.

He finally concludes with (ch2 part9) :


「There is no such thing. There are many inherent problems about taxes. Someone once said, 『if one is able to solve the problems of taxes, then there wouldn't be a need for economics』. Both tax systems are equally flawed. However, if we want to encourage the people to set up businesses, we must decrease their fixed expenses first. If we use the current system, it would not be different from starting a business with a 2 thousand platinum coin deficit. If we were to remove that large deficit, wouldn't it become easier for them to start setting up a business? What do you think? 」

Kouta looked at Erica.

「... You have a point. That's not a bad idea. 」

Erica nodded her head. She now understood the part about tax collection methods. Through Kouta's explanation, it is quite clear that this is a step forward they could take. However-

「However, it's impossible. 」


That's right, we've just spent 1000 words reading about taxes, just to end up giving tax breaks for the rich, which is a great idea when you're in crippling debt and right back where we started.

Additionally, there's another problem:

The companies who have the capital and resources to begin expansion into an underdeveloped province are those that are rich enough to not mind the loss on investment, due to a low cost-of-capital.

Those are the same companies he's going to be targeting with a progressive tax, because again, they're income-rich.

Now, I get the intent he's going for. He's going to lower taxes so that companies come in, set up and earn money. Then, once they're settled and earning money, he can collect more taxes on them with a progressive tax rate.

The problem with this policy is that the companies know it too. And it's in fact a plot point all the way back in c1 part3:


「... Then I shall continue giving the report. The Royal Capital Trade Union presented a petition yesterday. 」

「A petition? What more do they want as to require another petition? 」

「They said a lot of things that made a quite lot of sense at first glance... however, to put it bluntly it's actually just to reduce tax or be exempted from paying it. 」

Hearing the self-proclaimed「age after 60 is just an arbitrary number」- Lotte's young voice that was unbefitting of his age, the miserable looking queen immediately retorted while looking displeased.

「Dismissed. Absolutely impossible. We already reduced the tax last year, any lower and our country will perish. 」


So eventually, we reach the real solution. Blackmail the prime minister with the main character's presence as a Hero to have the Queen give them publicity.

You could've just led with that instead of the massive detour about taxes.

This is what I'd like to call "trying to look smart by explaining concepts while others ooh and aah about it, but actually has no effect on the story". It's a bad way to write about this sort of thing.

In short, the novel tries to make its main character smart but ends up in the usual place of making everyone else look s*upid instead.

It's filled with s*upid Japanese Novel cliches like rapid-fire misunderstandings. The main character is somehow very bad at explaining himself. This is despite him being a banker, whose job it is to explain financial products to clients.

It takes far, far too long for the character to arrive at the actual solution, and wastes everyone's time in the process. If I wanted to read about progressive taxes, I could have just opened up a Wikipedia article.

Except the main character is also wrong about his explanations too, which is a death sentence for a novel about finance and economics.

I have little faith that the author will be able to handle any of the other topics properly, those being stock prices, debt defaults, currency collapse and failed derivatives, even ignoring the problem of "what, Stock exchanges don't happen until the 1600s, how do they exist in what is presumably a medieval world?", I don't have enough faith in the author to accurately model and then solve these difficult topics, and what's left over is cliche and trite content.
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Leic8162 rated it
May 19, 2018
Status: c2 part9
I bet, this gonna be great story.

At first, the male lead is too calm as a summoned person, whether he's too smart or his character is really a calm person. But the story so far turned out unexpectedly. Male lead also is a normal human, no OP magic or skills, yet his head that full of his work in earth (as a banker) able to assist a fief lord slowly to understand what is important to improve the fief. It just started, though.

Anyway, I am really looking forward the continuation... more>> for this novel!

*may change my review if there are more chapters <<less
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