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Fun finance fact: "time on a machine that makes a precious commodity" is the first known futures contract, although in _Debt_ David Graeber posits that futures
by 1-more 7mo ago
Fun finance fact: "time on a machine that makes a precious commodity" is the first known futures contract, although in _Debt_ David Graeber posits that futures contracts are the original form of currency. The concrete example I'm thinking of is https://en.wikipedia.org/wiki/Thales_of_Miletus#Olive_presses https://en.wikipedia.org/wiki/Thales_of_Miletus#Olive_presse...