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The Fiat Standard Lecture 12: Fiat Cost-Benefit Analysis calculates the minor benefits of fiat & compares them to its massive destructive effects: wealth erosion, distorted markets, political power grabs, endless wars, societal decay & more.

You can buy the hardcover, ebook or audiobook in several languages on saifedean.com/TFS, where you can also find the full lecture notes available for free download.

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