Crypto’s Fatal Flaw: Trust, Scale, and the Economics of Blockchain

Published in 1776, 'The Wealth of Nations' is Adam Smith's magnum opus that laid the groundwork for modern economics. The book critiques mercantilist economic theories and introduces the concept of the 'invisible hand,' which describes how individual self-interest leads to societal benefit. It emphasizes the division of labor, the accumulation of capital, and the importance of free markets. Smith argues that a nation's wealth is not measured by its gold and silver reserves but by the stream of goods and services it produces. The book also outlines the core functions of government, such as maintaining defense, enforcing civil law, and promoting education, while advocating for limited government intervention in market activities.

In this influential book, Milton Friedman discusses the role of economic capitalism in a liberal society. He argues that economic freedom is a precondition for political freedom and advocates for limited government intervention. The book covers various topics, including the relation between economic and political freedom, the role of government in a free society, monetary policy, international trade arrangements, and the role of government in education. Friedman's work has been highly influential in economic theory and policymaking, and the book has been translated into eighteen languages and sold over half a million copies since its publication in 1962.

In this classic work, Hayek restates the ideals of freedom that he believes have guided the growth of Western civilization. The book is divided into three parts: 'The Value of Freedom,' which provides the philosophical foundation and justification of a free society; 'Freedom and the Law,' which discusses the development of the Rule of Law; and 'Freedom in the Welfare State,' which examines various areas of contemporary policy in light of the principles developed earlier. Hayek argues that liberty is essential for innovation and progress, and he warns against excessive government control and the stifling of spontaneous forces in society. He also explores the balance between individual freedoms and necessary government intervention, emphasizing the importance of the rule of law in ensuring individual liberty within a democratic society[1][4][5].

This collection includes some of Vonnegut's most accomplished works from the 1950s to 1968, featuring a mix of science fiction, satire, and emotional depth. The title story, 'Welcome to the Monkey House', presents a dystopian future where population control is enforced through drastic measures, while other stories like 'Harrison Bergeron' explore themes of equality and societal critique.