The Bitcoin Standard Podcast 241. Austrian economics intro with The Bitcoin Way
52 snips
Oct 1, 2024 Saifedean, an educator and author specializing in Austrian economics, discusses the essentials of this economic theory and its relevance today. He shares his transformative journey from engineering to economics, highlighting the shift from Keynesian to Austrian principles. The conversation delves into the failures of fiat currency through Lebanon's monetary collapse, emphasizing how Bitcoin offers a sustainable alternative. Saifedean critiques government intervention and discusses the subjective nature of value in economics, making compelling arguments for economic literacy and sound monetary systems.
AI Snips
Chapters
Transcript
Episode notes
Saifedean's Path to Economics
- Saifedean Ammous's father only accepted medicine or engineering as career paths.
- He chose engineering due to interest in cars and aptitude for math, later shifting to economics.
Uncovering Fiat Lies
- Discovering Austrian economics reveals the lies within fiat systems.
- This realization can be a shock and can change one's perspective.
Recommended Reading
- Start with Rothbard's "Austrian Theory of Money" or "What Has Government Done to Our Money?" to understand Austrian economics.
- Explore his other works like "America's Great Depression" for historical insights.