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Can You Have Your House And Spend It Too?
Topic: Home and Garden 1:15 pm EDT, Oct 13, 2008

George Dyson, at Edge, republished from MAKE Volume 15:

The breakthrough was in money being duplicated: the King gathered real gold and silver into the treasury through the Exchequer, with the tally given in return attesting to the credit of the holder who could enter into trade, manufacturing, or other ventures, eventually producing real wealth with nothing more than a notched wooden stick. So what's the problem? Aren't we just passing around digital versions of the tallies we've been using for almost one thousand years? Aren't mortgages, whether prime or sub-prime, just a modern version of paying for houses with fraud-resistant sticks?

If you've finished Anathem, you might want to take another dip into the Baroque Cycle [1, 2, 3, 4]:

One of the things I wanted to talk about in "Cryptonomicon" was the history of computing and its relationship to society. I was talking to Stephen Horst, a philosophy professor at Wesleyan, and he mentioned that Newton for the last 30 years of his life did very little in the way of science as we normally think of it. His job was to run the Royal Mint at the Tower of London. I'd been thinking a lot about gold and money, which were themes in "Cryptonomicon."

At the same time, I read a book by George Dyson called "Darwin Among the Machines," in which he talks about the deep history of computing and about Leibniz and the work he did on computers. It wasn't just some silly adding machine or slide rule. Leibniz actually thought about symbolic logic and why it was powerful and how it could be put to use. He went from that to building a machine that could carry out logical operations on bits. He knew about binary arithmetic. I found that quite startling. Up till then I hadn't been that well informed about the history of logic and computing. I hadn't been aware that anyone was thinking about those things so far in the past. I thought it all started with [Alan] Turing. So, I had computers in the 17th century. There's this story of money and gold in the same era, and to top it all off Newton and Leibniz had this bitter rivalry. I decided right away that I was going to have to write a book about that.

Can You Have Your House And Spend It Too?



 
 
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