Corrected origins of modern capitalism
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@ -1261,8 +1261,8 @@ An enterprise is not a physical thing. It is not buildings
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and machines and all that. It is a thirteenth century accounting fiction
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and machines and all that. It is a thirteenth century accounting fiction
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that fourteenth century businessmen imagined into reality, in that
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that fourteenth century businessmen imagined into reality, in that
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the group of people the accounting fiction represented acted as
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the group of people the accounting fiction represented acted as
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one person in reality. In the seventeenth century
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one person in reality. In the seventeenth century the Dutch and
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Charles the Second created modern capitalism, by merging this accounting
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Charles the Second created modern corporate capitalism, by merging this accounting
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fiction with the Roman legal fiction of the corporation,
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fiction with the Roman legal fiction of the corporation,
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to create the publicly traded joint stock limited liability for profit corporation.
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to create the publicly traded joint stock limited liability for profit corporation.
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We now, however have postmodern capitalism, in that a multitude of "stakeholders"
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We now, however have postmodern capitalism, in that a multitude of "stakeholders"
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@ -1380,6 +1380,11 @@ a vast preimage, a part so small that it fits in single network packet, but
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part of a preimage so vast that no one possesses all of it, that no one could
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part of a preimage so vast that no one possesses all of it, that no one could
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possess all of it, was part of the data from which that hash was generated.
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possess all of it, was part of the data from which that hash was generated.
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And, associated with the current root of the merkle dag will be a
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recursive snark that proves that someone verified a proof that
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each path through the dag conformed to the requirements for that path --
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even if these requirements are known to very few people.
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The mainchain is a Merkle dag, structured in a way that makes it possible
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The mainchain is a Merkle dag, structured in a way that makes it possible
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to give a single total order for the gossip vertexes of which it is composed,
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to give a single total order for the gossip vertexes of which it is composed,
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and every gossip vertex in the dag is a Merkle tree that reflects, among
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and every gossip vertex in the dag is a Merkle tree that reflects, among
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