2min chapter

The "What is Money?" Show cover image

Order Without Organizations with Aneesh Karve (WiM141)

The "What is Money?" Show

CHAPTER

The Irreducibility of Proof of Work

The labor theory of value is fallacious it's not how much effort. I can still use an army of a second still have an army of electricity produce that. The only way this is what your reducibility means that we can actually achieve the outcome is just to run it and find out there's no shortcut. And so in some sense what Mises says about the market process he's like look, all I know is that you can't do this in socialism I can't tell you what's going to happen in the market.

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