New Money is Created with Promises

Ordinary people can help create new money by making promises. You constrain the future by making a plan, and a promise to keep to it. Money is created in response, because in making that promise you have created value. New money is created to represent that value. This is why it is possible for banks to fall apart when people don’t pay their mortgages back. Banks sell assets that are partially made of the future intents of borrowers. When borrowers do something other than promised, those as...

 What People Can Achieve Grows Exponentially

The mathematics of cooperation of men and tools is interesting. Separated men trying their individual experiments contribute in proportion to their numbers and their work may be called mathematically additive. The effect of a single piece of apparatus given to one man is also additive only, but when a group of men are cooperating, as distinct from merely operating, their work raises with some higher power of the number than the first power. It approaches the square for two men and the cube fo...

 Teddy Roosevelt's Environmentalism

The nation behaves well if it treats the natural resources as assets which it must turn over to the next generation increased and not impaired in value.

 The Ponzi-Scheme Meme

Profit-motivated designer viruses, many of which are completely legal and aboveboard today, have their shady origins in the crooked Ponzi scheme.* Charles Ponzi was an Italian immigrant who opened a business in Boston in 1919 called the Securities Exchange Company. He offered to repay people's investments in 90 days with 50 percent interest: an investment of $10 would bring $15 in three months. His story was that he bought international postal reply coupons in Europe and, due to currency flu...