Damus
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freedommachine
@freedommachine

The word "magazine" isn't just what you think it is. it’s a history lesson. It comes from the Arabic word *makhzan*, meaning "storehouse" or "depot."

As trade grew between the Islamic world and europe, this word traveled to Italy (*magazzino*) and eventually into English.

The building blocks of European capitalism: inventory, logistics, and record-keeping are direct Islamic influances.

From this perspective, the Austrian school of economics is an attempt to preserve these original, organic market principles. The Austrian view fights to protect the free, decentralized nature of ancient markets against the "statist" approach of Keynesian economics, which are a subversion of true markets. By rejecting top-down government control, the Austrian tradition seeks to defend the spontaneous order that were a central part of islamic market traditions and philosophy. Wa Allahu A'lam
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Yusuf al-Texani · 1w
That explains why "magasin" is store in French
Yusuf al-Texani · 1w
I'd zap, but coinos is down yet again
bad grammar · 1w
Interesting! language is so fun.
Suppress · 1w
well the problem is that its a zero sum game, even if you snap your fingers and start with a perfectly decentralized system it will tend towards centralization. As competitors compete, one must win, then the winners compete until you end up with a monopoly. This is the inherit problem with free mar...