What does this bit mean?
#TheBitcoinStandard
#SaifdeanAmmous
#AskNostr
Discussion
I think it means that we were able to build larger, more capable ships that lasted longer, making the longer production time worth it. This was only possible through capital accumulation in the form of commodity money.
Capital accumulation (machine tools) make the process of producing fish an extension of the process of producing boats & nets & hoists & winches, etc. There is a longer process from start to finish (starting the boat build to actually catching fish), but the finish (boats, nets, etc) makes it possible for a few men to produce with less work what it would have taken hundreds of men to produce with basic tools.
The end result of producing specialized fishing boats is the ability to catch thousands of fish very quickly.
The end result with basic hand tools is the ability to catch a few fish near the shore.
Money facilitates the trade needed to extend & lengthen the process in irder to achieve a hyper productive result
Man , you explained this so perfectly thank you. In particular the idea of making 'extension'
Why here though ( and I'll leave you in peace) is 'capital accumulation synonymous with'machine tools'?
Almost made another comment correcting myself, should have said "money & machine tools" - my default is just to take money out of the equation when trying to explain things, but here the point was really to talk about what money enables.
But the machine tools (and ability to save & acquire them) are what make boat & winch & hoist production possible.
It's layers & layers of specialization & innovation & production enabling lots of real savings (capital accumulation) that enable the extension of the key areas of production that enabled the savings in the first place.
