
168. Available now: Principles of Economics!
The Bitcoin Standard Podcast
The Importance of Looking at Economics Through a Lens
In a modern civilized society, you're making the decision about how much water to buy. Things would be very different if you were on a desert island, for instance, with no water. So therefore, diamonds are a lot more expensive because people value the first unit of diamonds a lot more than they value the 20th units of water they get in a day.
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