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A monetary transaction is bi-directional: a credit moves in one direction, and a real good or service moves in the other I’ve spent a long time engaging with public perceptions of money, and one of the weirdest but most common phenomena is the conflation of those two things, and

As humans, we build words, and new words can be built at any time, but words can be designed for purposes beyond conveying meaning Take a word like ‘entomophagy’. It just means ‘eating insects’. This word has not clarified some previously ill-defined thing: the compound word

Debates about ‘de-growth’ are very heated, and the Degrowth movement is often attacked by both conservatives and left-wingers I don’t pretend to have a resolution to the debate, but let me just add something for all parties to reflect on: If you define 'progress' as growth,

The three main methods of elite wealth accumulation 1) Rent from shares and other financial instruments: you own stuff that others operate, either directly through shares, or indirectly through credit instruments. This allows a constant ‘passive income’ derived from the active

Probably the greatest misconception about finance is the idea that it’s all about maths and numbers, rather than about contracts, power and politics For example, I often come across people who talk about the ‘mathematical impossibility’ of paying back the interest on all debt.

There’s something kinda grating about the world’s imperial hegemon putting on this ‘poor me’ act, complaining about how much it does for the world, and how hard done by it is It’s kinda grating how the world’s greatest beneficiary of goods made by other people in other countries

All these AI companies training their machines on centuries of data and skills produced by humankind - and then reaping the profits of that - should donate large amounts of their shares to the public in recognition of this. Otherwise they're just parasitic

One phrase that irritates the hell out of me is ‘taxpayer funded’, this idea that somehow a state cannot pay for things unless taxpayers give it money. This is a widespread belief, but it’s obviously ridiculous given that states issue the very money that’s being given back to

I first started encountering ‘edgelords’ when I was immersed in the crypto world from around 2011, but I soon saw them proliferating in many libertarian-tinged scenes or group Telegram chats. These were people who styled themselves as ‘contrarians’ who ‘dared’ to think

As a South African, one thing I’d often like to tell Europeans and Americans is this: in general, people in the Global South do not associate Israel with ‘jewishness’ as much as they associate it with White People Israel is backed by the USA - whose elites are white people - and

People often use the term ‘Monopoly Money’ as an insult to refer to a weak currency, but Monopoly Money is actually one of the strongest global currencies there’s ever been. Consider the fact that it’s guaranteed to buy you hotels on particular places on the board at exactly the

The thing about crypto people is that they will loudly and arrogantly decry anyone who hasn't spent ten years obsessing over their specific preferred tech spec as illiterate and then loudly profess to understand public finance

Cast your vote! Why is Musk divorcing Trump Option 1: he's been used, humiliated and then thrown out. With his DOGE a failure, he now wants to save some face by pretending to launch a principled attack on the president Option 2: Tesla is suffering due to the association with

In London? Come learn about a #commons approach to currency and money, with me and Matthew Slater. In September we are offering an event as part of the Kairos series on #RevivingTheCommons. We will head there after the #FestivalOfCommoning in Stroud the day before.

Old factory lords were pioneers of the original business model of capitalism, which was to accumulate concentrations of tools, machines and materials - the proverbial factory - and to get workers to operate them. This is what old Marxists would call ‘owning the Means of

Technology does many things, but one thing it never does is save time It either reduces headcount, while amplifying the productivity of the remaining workers, so that fewer people working the same amount as before output the same total amount of products as before in the same

I value academia a lot, but I have a difficult relationship with it. Here’s why Academics are specialists, and specialists often lose sight of where they stand relative to the rest of society Imagine you’re a specialist that has reached Level 50 in a specialist topic, while the

Censorship is about creating differences in volume between voices, and there are two primary modes of doing it Mode 1: Turning down the volume (silencing): the most ancient forms of this are simple acts of shunning (i.e. a community not listening to some people, and excluding

VCs do not fund AIs to produce truth. They fund them to product profit. From an evolutionary perspective, then, the test of fitness applied to an AI is not whether it can tell you things that are true. It’s whether it can increase the bottom line of the corporate sector. So, the

I sense there’s a growing feeling among many people, that they - and the vast majority of humanity - are mere spectators to the actions of ‘Great Men’. You wake up in the morning and see what the Great Men have decided to do with your life. Even the supporters of those men seem