Bitcoin Rapid-Fire Gene Epstein: Austrian Economics, Soho Debates & Is BTC a 'store of value'?
Dec 12, 2019
Gene Epstein, former chief economist for the New York Stock Exchange and director of The Soho Forum debates, dives into the clash between capitalism and socialism. He critiques socialist ideals, emphasizing their practical limits and explaining their increasing appeal among youth. The conversation shifts to money, where Gene provocatively argues that it's a medium of exchange rather than a store of value. He discusses Bitcoin's potential to replace traditional currencies and highlights network effects that sustain its value, paving the way for financial innovation.
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How The Interview Began
- John discovered Gene via The Soho Forum debate with Richard Wolff and invited him after viewing it.
- John found Gene's performance convincing and wanted to explore the socialism vs capitalism discussion further.
Worker Control Already Exists
- Gene argues workers' self-directed enterprises already exist and could expand under capitalism without state coercion.
- He says socialists ignore worker apathy and will resort to government force when voluntary options fail.
Personal Journey From Communism To Libertarianism
- Gene recounts his personal political evolution from a Communist mother to libertarianism and debate work.
- He uses his past to explain why he challenges socialist arguments in The Soho Forum debates.
