Economics

Rothbard on Utility Theory

Today we grab a section out of one of the many incredible works by Murray N. Rothbard to discuss the idea of marginal utility and why money must be a good, and actually is not a unit of measure. As value can only be measured as relational to another good, money follows the same law of diminishing marginal utility.

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Why the State Demands Control of Money

What if there was a clear and obvious reason that the state monopolizes the production of money, that after understanding, you simply cannot unsee? What if the story we are all told of governments and central banks protecting the economy from crises, is actually the perfect opposite of what’s really happening?

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A Trust Model Comparison: Bitcoin vs. the Mighty Dollar

It feels like a good day for a long discussion comparing the trust model of government money, and the trust model of a decentralized, proof-of-work blockchain. Aka – Bitcoin vs. The Dollar.

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How Prices Keep Us From Squandering Resources

“this system of prices is not an organized institution or structure that was created by any single person’s design. It was simply a natural consequence of trade between people even before money in a barter economy.” – Hayek

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The Bitcoin Central Bank’s Perfect Monetary Policy

“The BCB enforces the strictest deposit regulations in the world by requiring full reserves for all accounts. This is the digital equivalent of the Chicago Plan or the Austrian 100% reserve gold standard.” -Pierre Rochard

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The Time Value of Bitcoin

“Lightning Network provides a framework to measure the time-value of bitcoin, a precursor for a capital market and reserve currency status.” –Nik Bhatia

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Why Money Has Value & Spending Bitcoin is Senseless

Mises’ and Menger’s theories of money provide deep insight, but invariably never attempted to rank the functions of money during its period of establishment. To fill the gap, Fernando Ulrich explains why he believes a Store of Value must arise before a money becomes a Medium of Exchange.

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I, Pencil

In closing out the week we have one last piece on the economics behind Bitcoin and the natural market economy. We read the classic piece “I, Pencil” by Leonard E. Read posted on Fee.org.

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“The Yield From Money Held” Reconsidered

What if “hoarding” money is both realizing its most important utility, and stabilizing in an uncertain economy? If true, how could the exact opposite belief be so widespread? Don’t miss our read from Hans Hermann Hoppe on Mises.org to find out more!

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How Central Banking Increased Inequality

With the huge number of conversations and claims of income inequality, the central banking monetary policy, which directly benefits the wealthy and financial sector, is almost entirely ignored. What if it’s the largest piece of the inequality puzzle? Listen to Louis Rouanet’s piece from Mises.org.

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