/lit/ - Literature

>[4] It should be noted, in clarification of this analogy, that the conceptual foundations of political economy (pre-Bitcoin) were far inferior to those of mathematical logic (pre-Gödel). The logicism of the Hilbert Program, and of primitive analytical philosophy, while ultimately untenable, at least provided an exact formal basis for its own theoretical elimination. The concept of property, in marked contrast, remains opaque to an almost comical degree. Its dependence upon a legal decision process invoking discretionary judgment essentially resistant to formalization, while convenient—almost by definition—to those wielding political influence, is a stark indication of its radical conceptual insufficiency. Property is reducible neither to legal title, or physical possession of precious substance. The former is a bad abstraction (to political dispensation), the latter an inadequate one (to a crudely naturalized relation). Another basic conception of property is now undergoing consolidation. Property is crypto-security. It consists of keys.

this is one of those Uncle Nick spells i was waiting for.