I have this theory that during periods of intense creative destruction, old institutions that survive at all turn into de facto banks, defined primarily by assets they manage to freeze and build moats around. Eg. Catholic church during reformation turned into a real estate bank
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Replying to @stevesi
Yeah, I'm generalizing that observation which several people have made, most recently Rushkoff. I think you can draw interesting conclusions if you generalize idea of a "bank" to any institution that creates rents out of long-lasting assets that can survive institutional churn
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Replying to @stevesi
Quantum ownership models. Where "ownership" is a probability distribution over risk/agency space or something. The idea that ownership is a particle with unambiguous position/momentum is very 17th century.
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I think the lesson there is that ownership is good when it either reduces or increases the uncertainty of the future when it is too uncertain or too locked down
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