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Both left/right ideologies seem captured by poorly incentivized institutions. Bitcoin fixes the sponsor/patron problem.

Keen addresses your first question in a way and with historical context. https://podcasts.apple.com/us/podcast/lex-fridman-podcast/id1434243584?i=1000570189155

Sourcenode 11mo ago

I'm listening to this now, about 30 minutes in. I find this guy's economic theory really challenging to understand or relate to.

It sounds like he's advocating for credit based monetary expansion by private institutions, which is very similar to what we have with the federal reserve. He hasn't mentioned the bond market yet, but he's against sound currency.

I'd take the time to consider what he's saying, but now that bitcoin exists his opinion is irrelevant to me personally. I would never choose to use an inflationary credit currency over bitcoin.

Maybe I'm missing something?

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Discussion

Primate 11mo ago

Also haven’t finished listening to it but he does take a passing swipe at bitcoin at one point, which seems odd for such a well read economist. Tho he admires Keynes as a writer which is like saying Mussolini was a fashion designer.

Yeah the whole thing seems unfocused and wide ranging. I don’t know how one can be an Austrian without a sound unit if account.

Primate 11mo ago

The guiding question still seems to me this: who owns your ideology, whether a charismatic strongman or a secret intelligence agency? Sub-question being implied is this: can any political movement ever be pure, un-manipulated at the narrative or financial level? If not: fuck the sponsors or war and fuck their fucked incentive structures.

Sourcenode 11mo ago

Political movements exist only in the realm of ideals. They aren't real in the physical sense.

I think bitcoin provides us with a unique opportunity to link the ideal to the physical.

In this sense it will brush aside all the ideals which are not compatible, including this arm chair economist.

Primate 11mo ago

But that’s manifestly untrue. Just think of the 99% or the MeToo or the Woke movements: all ideals turned to occupied buildings, losses of prestige, and neutered kids respectively.

Follow the provenance of your ideal. As many philosophers say.

Sourcenode 11mo ago

I see your point. I might have been too absolute in my statement. Those ideals obviously informed physical action and outcomes, but the ideals themselves are not real in a physical sense.

There's nothing tying them to reality except for the people who chose to believe them. There's no bounds to how those ideals are translated into action.

I'm not sure if I've fully formulated what I'm trying to get across yet, but maybe you see what I'm getting at.

Primate 11mo ago

Narrative control: the institutions have psyops but we have memes. I say we win but it’s going to be a fight. They have the world to lose and we have the world to free.

Sourcenode 11mo ago

Absolutely yes