model
Banknotes abstracted wealth beyond finite gold, letting Protestant hard work and frugality be monetized into potentially infinite accumulation.
Topic brief
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Abstract Wealth
Banknotes abstracted wealth beyond finite gold, letting Protestant hard work and frugality be monetized into potentially infinite accumulation.
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Key Notes
definition
Banknotes represent the abstraction of wealth: because money is no longer limited by gold, wealth can theoretically become infinite.
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Timestamped Evidence
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"And it's very expensive to be a knight. But now, eventually, you have the gun, the musket. Okay? And it takes about 60 days..."
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"to trade goods. Not only... You can use bank notes, which is just money. Okay? And you can now monetize your hard work and..."
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"So this is a printing press invented by Gutenberg. This is what a printing press looks like. You have the musket, okay? So before,..."
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Relevant Lectures And Readings
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The Protestant Reformation begins as liberation from priest, pope, and ritual.
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