3min chapter

The "What is Money?" Show cover image

How Bitcoin Will End Currency Counterfeiting with Michael Goldstein (WiM252)

The "What is Money?" Show

CHAPTER

The State Is Engaging in Expropriative Activities to Perpetuate Itself

The state is engaging in these expropriative and exploitative activities to perpetuate itself. And because of the fact that it's having to engage in activities that are not valid for other people to engage in, you need to create a legitimacy. You need to make people think that it's okay to do this in this special situation. So what he's describing is the natural tendency of the state to start restricting competition so that it can retain this kind of special status.

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