Why Central Planning Always Fails | The Aneesh Karve Series | Episode 4 (WiM265)
The "What is Money?" Show
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Are We Really Born Free at Everywhere?
Mises: We live in a reality that's not exactly hospitable to us per se, takes a lot of work and effort. Central planners trying to say "hang on, we see some inequality" has never worked because it avoids this connection to economicreality. Bitcoin is either above or below the cost to produce it; let's say costs about 20 grand in electricity to produce a Bitcoin. If you don't have to go through that scarce resource allocation, and it's just a paper system where, okay, if you had some more Ethereum, you can stake and now sign transactions. That's not an underlying tie to real economics. There's no substitute for it.
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