Capitalism in Markets Is What Allows for the Scaling of the Market Economy

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Capitalism in markets is not something that you need a central planner or a government officer to make happen. It's just our cognitive capacity allows us to develop tools that we can use for production. That's what humans have been doing since they started making spears to hunt. We're constantly accumulating capital and trading with one another. This is just a naturally emergent thing. Money is what makes it enormously powerful. money is what allows it to scale really.

Saifedean Ammous is an Austrian economist and author of The Bitcoin Standard and The Fiat Standard. Please support this podcast by checking out our sponsors:
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OUTLINE:
Here’s the timestamps for the episode. On some podcast players you should be able to click the timestamp to jump to that time.
(00:00) – Introduction
(07:53) – Money
(20:58) – Gold standard
(34:09) – Collective hallucination
(39:59) – Austrian vs Keynesian economics
(1:12:20) – Free market
(1:28:49) – Monarchy
(1:34:23) – Fiat money
(2:21:13) – SWIFT system
(2:34:03) – Bitcoin
(2:40:20) – Satoshi Nakamoto
(2:48:04) – Criticisms of Bitcoin
(3:03:16) – Football/soccer
(3:06:58) – Criticisms of Bitcoin continued
(3:17:17) – Bitcoin Maximalism
(3:29:40) – Proof of stake
(3:46:46) – Central bank digital currency
(3:57:59) – Michael Malice
(4:00:12) – Advice for young people
(4:06:21) – Palestine
(4:18:00) – Mortality