Re: What is AC?
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The bulk of the industrial revolution and the information age which follows has been enabled by the capital accumulation possible by the modern corporation. This capital accumulation depends on limited liability, which requires government intervention. Limited liability protects shareholders (eg, Bill Gates) from the liability incurred by the operation of the corporation. This makes passive investment +EV.
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In the paradigm of anarcho-capitalism, institutions of collective social advancement are abolished, including those essential to technological innovation.
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