A Simple Math Formula Responsible For Modern Civilization

de bene esse: literally, of well-being, morally acceptable but subject to future validation or exception

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Pacioli

The human species tend to remember inventions as events that changed history. Fire, agriculture, architecture, the printing press, electricity, all led to immense leaps for humanity.
What is more difficult to grasp is the impact that concepts and ideas had on progress.

For instance, a very simple idea that loans can be made and periodically interest can accrue on those loans has been with us since we first began planting seeds in the ground. As communities became more advanced, so did this underlying idea. As governments became more organized, so did the implementation of that idea.

That idea — compound interest — has had an instrumental impact on the development of civilization, and it is about time it had its due.

Read more: http://www.businessinsider.com/compound-interest-is-responsible-for-modern-civilization-2013-6?op=1#ixzz2VMFjngaq