1min chapter

The "What is Money?" Show cover image

The Psychology of Property | The Stephan Kinsella Series | Episode 4 (WiM235)

The "What is Money?" Show

CHAPTER

The Utility of the Things We Can Control

I like the thinking of wealth as the sum total of utility of the things we can control. And when you remove private property, you end up with these inefficient decision making processes and actions that's leading to the usage of resources in a way that creates waste, lower standard of living and wealth destruction. We're actually reducing the amount of things. I mean, none of it makes any sense, right? It's obviously a huge diversion of resources. A legacy from some stupid program, but it's incredible. Oh, look up strategic cheese reserves. You won't believe it. That's funny. Okay. Well said."

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