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How Do We Measure Value and Satisfaction?
Economics is based on people acting and people act motivated by something that they personally find valuable. And personal valuations, subjective values, sort of what we usually call it, can't really be measured. So in order to just figure out what the heck is it that we're observing, we need a theory to begin with.
Senior Fellow of the Mises Institute and Associate Professor of Entrepreneurship Per Bylund joins me for this in-depth conversation on his book "How to Think About the Economy".
Be sure to check out Swan Private, the trusted Bitcoin financial services provider for high-net-worth individuals and businesses worldwide: https://www.swanprivate.com/breedlove
GUEST
Per's Website: https://perbylund.com
Per's Twitter: https://twitter.com/PerBylund
"How To Think About The Economy": https://mises.org/library/how-think-about-economy-primer
PODCAST
Podcast Website: https://whatismoneypodcast.com/
Apple Podcast: https://podcasts.apple.com/us/podcast/the-what-is-money-show/id1541404400
Spotify: https://open.spotify.com/show/25LPvm8EewBGyfQQ1abIsE?si=wgVuY16XR0io4NLNo0A11A&nd=1
RSS Feed: https://feeds.simplecast.com/MLdpYXYI
Transcript:
Outline
00:00:00 “What is Money?” Intro Music
00:00:08 “What is Money?” Intro Message
00:00:54 Learn about Bitcoin with Swan Private at SwanPrivate.Com
00:01:48 Do More with Your Digital Assets with Ledn
00:02:33 "How To Think About the Economy"
00:05:34 Human Interaction with the Economy
00:12:03 Theory Interprets Observation
00:17:15 Why is "Production" Core to the Economy?
00:23:38 Supply and Demand
00:28:22 Take Control of Your Healthcare with CrowdHealth
00:29:25 A Bitcoin Wallet with Privacy Built-In: Wasabi Wallet
00:30:00 Invest in the Fine Art Market with Masterworks
00:30:35 Hold Bitcoin is the Most Secure Custody Model with Casa
00:31:24 The Relationship between Consensual Exchange and Value Creation
00:33:50 Observing Economic Science
00:40:58 The Flaws of Writing Current Monetary Policy Based-Off Future Predictions
00:44:53 Is Money the "Blood" of the Economy?
00:48:50 Value, Money, and Price
00:55:00 Data Storage Within Price
00:55:00 The Origins of Money
01:03:57 Is "Fiat" Money?
01:08:57 Specialized Production and Supply-Chains
01:15:45 Human Action and the Economy
01:24:09 The Study of Hidden Consequences
01:27:18 Where to Find Per's Work
01:28:09 "What is Money" Outro Music
SOCIAL
Breedlove Twitter: https://twitter.com/Breedlove22
WiM? Twitter: https://twitter.com/WhatisMoneyShow
LinkedIn: https://www.linkedin.com/in/breedlove22/
Instagram: https://www.instagram.com/breedlove_22/
TikTok: https://www.tiktok.com/@breedlove22?lang=en
All My Current Work: https://linktr.ee/breedlove22
WRITTEN WORK
Medium: https://breedlove22.medium.com/
Substack: https://breedlove22.substack.com/
WAYS TO CONTRIBUTE
Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7
Sats via Strike: https://strike.me/breedlove22
Sats via Tippin.me: https://tippin.me/@Breedlove22
Dollars via Paypal: https://www.paypal.com/paypalme/RBreedlove
Dollars via Venmo: https://venmo.com/code?user_id=1784359925317632528
The "What is Money?" Show Patreon Page: https://www.patreon.com/user?u=32843101&fan_landing=true
RECOMMENDED BUSINESSES
Swan Private guides high-net-worth individuals and businesses in all areas of Bitcoin strategy: https://www.swanprivate.com/breedlove
Ledn lets you do more with your digital assets: https://www.ledn.io/
CrowdHealth offers an innovative health insurance model based on Bitcoin and community: https://www.joincrowdhealth.com/breedlove
Wasabi Wallet is a Bitcoin wallet with privacy built-in by default: https://wasabiwallet.io/
Masterworks let you access the fine art market at more affordable price points (use discount code BREEDLOVE): https://www.masterworks.com
Casa is the most secure way to custody your Bitcoin (use discount code BREEDLOVE): https://keys.casa/
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