RWerpachowski 🇵🇱🇺🇦 on Nostr: npub1zdp33…2vqv8 imo what held back capitalism prior to modern times was mostly the ...

npub1zdp33shl69xr0uq3x8n5gsjykq9upycwh6nqm02c3f6x0frrn0dq42vqv8 (npub1zdp…vqv8) imo what held back capitalism prior to modern times was mostly the fact that any time you accumulated some capital, your king could simply take it away from you. The moment we had enough rule of law and respect for private ownership of capital, things took off.

Most of the "financial innovation" is pretty simple and could have been done by medieval merchants.