Preston Pysche, Eleventh Century, Today discussed on Bitcoin Audible
Place. You'd like paris london. Tokyo newyork seven cisco many former residents. Like chicago's black. Middle class have left to make their future elsewhere. Many who still work in those cities or forced into intolerably long commutes as the middle class dwindles. It leaves behind a marginal airlines population. Who depend on the city for a livelihood but often can barely get by but likely no longer and of course wherever this high skilled newly mobile capital cu labor re congregates. All other forms of work will be viable as well. This need not be understood at surface level as an elitist prediction but rather as baby steps toward feasible localism. At long last physical capital still matters clearly so does cultural capital. These are so obvious as to be weird to need to point out but those in a position to extract protection rinse physical capital likely with the lure of cultural capital will need to adjust to this new reality. Sticks are out. carrots are in. What are you gonna do about it. Build a wall. Good luck with that. A tweet from swan bitcoin. Miami mayor francis soiree says quote. We're looking at creating a regulatory framework that makes us the easiest place in the us to do business in cryptocurrencies. We are looking at being able to make payments in crypto in bitcoin in particular being able to pay your taxes re tweet from preston pysche the race amongst jurisdictions to attract bitcoin into their local domains is upon us. Most elected officials haven't realized they are in a race of epic proportions. But for those who have big benefits in the remarkable essay economic consequences of organized. Violence historian frederic lane emphasizes the importance of sovereign competition in using and controlling violence in an era of more mobile capital than we are used to today quote if all the tribute was used for conspicuous consumption. The term which seems particularly appropriate for the court of prince of the ancient regime growth was slowed by lack of investment merchants. Who gained protection rents from trade and colonization. Although not entirely inconspicuous consumption probably had a lower propensity to consume. If so lower profits for governments and higher profits for trading enterprises meant more capital accumulation and more growth mcneil similarly observes that in the wake of the eleventh century upsurge of venetian and genoese private commercial activity in the mediterranean quote rulers of old fashioned command societies were simply unable to dominate behavior. As thoroughly as in earlier times peddlers and merchants made themselves useful to rulers and subjects alike and could now safeguard themselves against taxation and robbery by finding refuge in one or another port of call along the caravan route and seaways where local rulers had to not to overtax the trade upon which their income and power had.