171. TIME: Chapter 3 of Principles of Economics
The Bitcoin Standard Podcast
00:00
The Importance of Time in Economics
Simon argues that using the term resource to describe material goods is a misnomer. He says it would be more accurate to understand scarcity as a function of the finite nature of human time. All human actions consume time and therefore come at the cost of foregone actions, he writes.
Transcript
Play full episode
