Bitcoin Audible Read_843 & 844 - Soft Fork, Covenant Review
The Classical Economists' Theory of Value Was More Sophisticated than You Think
Bob quotes from David Ricardo to show that the classical economists understood that utility was essential to explaining market value, but then he also explains why the Marginalist Revolution was a scientific advancement.
Ryan McMaken and economist Jonathan Newman look at what happens when governments try to control prices. It turns out bad things happen.
They are normal not in what may be called the absolute sense of the word; they are normal only in relation to a profoundly abnormal society.
Their perfect adjustment to that abnormal society is a measure of their mental illness.
- Aldous Huxley
"state-run media"
"There can be no acceptable future without an honest analysis of the past."
- Aleksandr Solzhenitsyn
Bitcoin Audible Read_839 - The Power of #Nostr
"Left-wing politicians take away your liberty in the name of children and of fighting poverty, while right-wing politicians do it in the name of family values and fighting drugs. Either way, government gets bigger and you become less free."
- Harry Browne
Back to the fiat mines. ⛏️
It’s not about being "most correct" but understanding that economic phenomena arise from complex, subjective interactions, making precise predictions impossible. The Austrian method emphasizes the limits of economic knowledge, rejecting the idea of economics as a purely objective science, and instead view it as a process of discovering and interpreting human action.
❤️❤️❤️ 854992 ❤️❤️❤️
Fascism is the stage reached after communism has proved an illusion.
- Friedrich Hayek
As conditions are today, nothing can be more important to every intelligent man than economics. His own fate and that of his progeny is at stake.
-Ludwig von Mises
One of the most important reasons for studying history is that virtually every stupid idea that is in vogue today has been tried before and proved disastrous before, time and again.
- Thomas Sowell
Alexis de Tocqueville: The Dangers of Democracy!
Kamala's Palace Coup | Radio Rothbard