Liquidity, Aristocracy and Serfdom

One Irradiated Watson

We see an extended conflict in the wake of capitalization. Capitalism selects for certain types of behavior and people.  These selection effects are starkly different from the selection effects illiquid forms of capital, which before capitalization were not even considered capital.  The essence of older forms of illiquid capital is violence.  Whether direct violence in the forms of men with swords or the protection of fortifications.  The serfs, the farm and the fort are the archetype of illiquid capital.  As the cost of defense decreases, there begins a divergence between defense ( both active and passive ) and capital.  Liquid capital, especially other forms than currency, is only widely possible when one does not have to protect property passively or directly employ protection to prevent theft ( there will always be a minimum level of protection needed though).  During the early middle ages even merchants, who are usually the archetype…

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