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#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
Lex Fridman Podcast
Is There a Difference Between Free Market and Central Planning?
In Soviet Russia, they tried to replace the profit motive or the price signal with this devotion to nationalistic faith and devotion where it's like you don't need self interest anymore. In a free market, if everyone is free to interact with deep capital markets based on an accurate price, you're getting data throughput of 120 bits per second times the entire economy. So in that respect, that's why something like capitalism, even in its marginalized form, state capitalism outcompetes communism. It's distributed computing versus centralized computing. And further, it's an inferior resource strategy.
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