The Philosophy of Money with Stephen Hicks (WiM350)
The "What is Money?" Show
The Utilitarian Standard for the Public Interest
The idea is that we have to have a single societal good at a given time. And so it's majority that gets to prescribe what the collective interest is for a certain amount of time. James Buchanan and the public choice school in economics, Buchanan won the Nobel Prize for launching the school.
Stephen Hicks joins me to discuss the philosophy of money, the morality of money and business, the importance of philosophical education, and why Bitcoin might be a sly roundabout way to take money out of the hands of The State.
Stephen Hicks is a professor of philosophy and the Executive Director of the Center for Ethics and Entrepreneurship at Rockford University. He is the author of 'Nietzsche and the Nazis.'
// GUEST //
Twitter: https://twitter.com/SRCHicks
Website: http://www.stephenhicks.org/
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// OUTLINE //
00:00:00 - Coming up
00:00:23 - Intro
00:01:56 - Helping Lightning Startups with In Wolf's Clothing
00:02:43 - Introducing Stephen Hicks
00:03:12 - The Philosophy of Money
00:06:29 - Money: A Social and Cultural Achievement
00:08:39 - Centrally Designed Money vs. Emergent Money
00:13:26 - The Origin of Money
00:18:42 - Money: A Language of Value
00:21:30 - The Resemblance between Money and Books
00:23:55 - The Morality of Money
00:33:56 - Money in Ancient Greece and Sparta
00:36:49 - The Greater Good Fallacy
00:41:05 - Individual Will vs. Collective Will
00:43:23 - The Utilitarian Standard
00:46:20 - Individualism Projects the Highest Resolution
00:49:11 - Maximize Your Profits with Gold Investment Letter
00:50:05 - Secure Your Bitcoin Stash with the iCoin Hardware Wallet
00:51:01 - The Noble Lie
00:52:01 - Bootleggers and Baptists
00:55:25 - The Naivety of the Baptists
00:57:56 - The Philosophical Controversy of Money
01:01:06 - A Cognitive Hierarchy and Measuring the Value
01:07:20 - Apprehending the Value of Knowledge
01:10:31 - The Laziness Factor and Business Efficiency
01:15:10 - The Ethics of Business
01:15:56 - Lending & Borrowing
01:22:28 - Morality of Business and Money
01:25:35 - The Inherent Value
01:29:11 - Free Market Capitalism Promotes Individualism
01:32:20 - The Desire for a Centralized Authority
01:35:25 - Secularism of the Central Planners
01:37:34 - A Bitcoin Wallet with Privacy Built-In: Wasabi Wallet
01:38:26 - Hold Bitcoin in the Most Secure Custody Model with Casa
01:39:14 - Value Judgment
01:42:58 - The Difference between Government and State
01:46:52 - The Legitimacy of Using Force
01:49:10 - The Proper Role of the State
01:50:40 - Restraining the State within the Moral Scope
01:55:14 - The Importance of Philosophical Education
01:59:25 - The Proverbial Cycle of Men and Time
02:03:00 - Still on the Learning Curve
02:04:23 - Proper Education for Children
02:06:26 - Can Bitcoin Restrain the Government?
02:09:18 - The Political Risks to Bitcoin
02:12:20 - Where to Find Stephen on the Internet
// PODCAST //
Podcast Website: https://whatismoneypodcast.com/
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