"From an engineering perspective the mechanical clock with its novelty, the escapement, was by far the more important invention. In terms of its impact on contemporary temporal relationships, the mechanical clock and sandglass were of similar importance. The main innovations were the restructurings of the relationships themselves. Chief among these was the time-rate wage, which played a leading role the economic revolution that started in the late Middle Ages. -- During this era physically coerced labor gave way to worker choice; serfdom and slavery succumbed to the time-rate wage." ~ Nick Szabo

In this episode, we dive deep into the fascinating history of timekeeping and its revolutionary impact on society and our economy. Join me, Guy Swan, as we explore "A Measure of Sacrifice" by Nick Szabo, uncovering the profound connection between the evolution of clocks, the concept of proof of work, and our modern understanding of value and fairness. Don't miss this journey through time—right here on Bitcoin Audible.

Check out the original article at A Measure of Sacrifice | Satoshi Nakamoto Institute. (Link: https://tinyurl.com/4dhej9dc)

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Read_806 - A Measure of Sacrifice, Part 1