84. Hard money and time preference: Lecture at the Property & Freedom Society
The Bitcoin Standard Podcast
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The Impact of Government Violations of Property Rights
The devaluation of currency is one violation of property rights that is highly destructive of future orientation. Having money allows man to delay consumption in exchange for something that can hold value well and can be exchanged easily. The more prevalent crime, the more resources need to be dedicated to protection, which produces no increase in wealth. Because they are considered legitimate, it is much more difficult to defend against government violations of property rights than individual crime.
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