[ExI] I Miss The King of Extropia

[John Clark]

On Thu, Jul 21, 2016 at 2:11 PM, Stephen Van Sickle <sjv2006 at gmail.com>
wrote:

> ​> ​
> Capital can be raised by sale of equity.  Debt can be convenient, but is
> hardly necessary.
>
> ​There is no fundamental difference.  When a bank loans you ​money to buy
a house the bank is in effect forming a partnership with you and taking an
equity position on your future earning potential. Or you can think of it as
issuing
 Van Sickle
​ bonds that the bank buys, and you then use the money the bank gave you
for the bonds to get your house. The future earning potential of my
invention or the future earning potential of my salary, It's the same thing.
​

S
haria law
​ takes a dim view of debt and charging of interest, but it's odd that so
many Extropians and fans of capitalism seem to agree. ​


 John K Clark





>
> On Jul 20, 2016 5:51 PM, "John Clark" <johnkclark at gmail.com> wrote:
>
>> 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
>> ​
>> widget
>> ​
>> I'm going to need capital to mass produce them, so if I don't have the
>> capital
>> ​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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>>
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