Centralized Law vs Decentralized Law with Stephan Kinsella (WiM099)
The "What is Money?" Show
00:00
Incentives Changing the Patterns of Human Action
Fiat currency were you have every incentive to borrow, because the morr whats. Put it this way, there's less of an incentive for me. Why? But i loan my big coins out,. It's already earning ten % a year, let's say, on real terms. Ye, bo sides wht wat av i got to get by loaning it outi i've got to get 20%. And whos gong to pay 20% interest? I you kno, a, i agree with you. So do you think swapping out the incentives of money, moving from a fiat currency standard to a hard money standard, actually changes a human, human character, human behavior
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