[ExI] I Miss The King of Extropia
johnkclark at gmail.com
Thu Jul 21 00:50:14 UTC 2016
On Wed, Jul 20, 2016 PM, Stephen Van Sickle <sjv2006 at gmail.com> wrote:
>> And without debt you couldn't have capitalism.
> Why not?
Capitalism is about capital,
If I invent a brilliant new
I'm going to need capital to mass produce them, so if I don't have the
to do that
I'm going to have to borrow some. And if I borrow something I'm going to
have to give it back
and that means I've incurred a debt. Without debt Silicon Valley wouldn't
exist, even renaissance Italy wouldn't have existed without its banks.
John K Clark
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