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6min chapter
Why Austrian Economists Didn’t See Bitcoin Coming with Vijay Boyapati (WiM324)
The "What is Money?" Show
The Importance of Speculation in Monetization
I'm surprised that at least Rothbard, I guess we can't speak on behalf of Mises, he laid it out more as a descriptive account of monetization, not a prescriptive. But there's this inherent speculative nature to human action itself. And so it seems like an Austrians should have understood that because what does Mises say? Like all human action is speculative, actually. You're basically speculating that your intention is going to map to the outcome you're trying to create. So maybe he would have seen it differently, but Rothbard at least maybe took it a step too far making it prescriptives. All you need is that original reservation demand.
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