Seigniorage. A word with a long past and an even more sinister present. It originates from the Old French seigneuriage, the ‘right of the lord (seigneur) to mint money’. The seigneurial system was a semi-feudal system of land ownership that originated in France in the 1600’s. Allotted by the king, […]
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Chpt 24.3: Profit Margin
Let’s briefly recap Part 1, and Part 2 of this short series. The Cantillon School of Economics “The reason that the rich were so rich, Vimes reasoned, was because they managed to spend less money.” Terry Pratchett – Men At Arms Sam Vimes isn’t wrong in his basic assumption about […]