I can't believe I forgot to add the reason this piece was on my mind in the first place! As I was discussing with a pal the other week, software engineers have independently invented a number of the principles of management science. It's extremely interesting to see which bits they came up with.
I was a bit disappointed, though, to check Wiki and find that all the animals that have done this are also crustaceans. More impressive if a crab-like animal had evolved from hamsters or something. On a less snarky note though, I think there's discussion in Charles C Mann's books (1491 or 1493) of the similar institutions that emerged independently in the old and new worlds.
I can't believe I forgot to add the reason this piece was on my mind in the first place! As I was discussing with a pal the other week, software engineers have independently invented a number of the principles of management science. It's extremely interesting to see which bits they came up with.
Would love to hear more about that.
I was a bit disappointed, though, to check Wiki and find that all the animals that have done this are also crustaceans. More impressive if a crab-like animal had evolved from hamsters or something. On a less snarky note though, I think there's discussion in Charles C Mann's books (1491 or 1493) of the similar institutions that emerged independently in the old and new worlds.
Relatedly, Merton on multiple discoveries.
On Graeber, the interesting claim is that money arises as a means of settling debts, rather than the standard economist sequence
barter -> money -> debt -> finance in general
In particular, this explains why fiat money issued by governments is inherently valuable, whereas crypto is not: you can use money to pay your taxes.
But, as you say, any creditor could do the same.