Glossary
Abstract money that lets wealth become potentially infinite and converts frugal labor into accumulation.
Topic brief
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banknotes
Abstract money that lets wealth become potentially infinite and converts frugal labor into accumulation.
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Key Notes
model
The Protestant Reformation won despite Catholic Europe's greater population and wealth because printing press, musket, and banknotes empowered literate believers, common soldiers, and abstract wealth.
model
Banknotes abstracted wealth beyond finite gold, letting Protestant hard work and frugality be monetized into potentially infinite accumulation.
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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"And the individual struggle to come to terms with what God means to you individually, okay? And the Vikings believed in resourcefulness, right? Which..."
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"Catholic Europe was wealthier and stronger, but they still won, okay? And the reason why they won is due to the invention of three..."
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"...more energy, 3,100 joules within the bullet. And then you have banknotes as well. And banknotes really is the exception of wealth, okay? Which..."
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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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