In this engaging discussion, Allen Farrington, co-founder of Axiom Capital and a philosopher, dives deep into the world of Bitcoin and Austrian Economics. He critiques mainstream financial theories and examines inflation's impact on our economy. Farrington argues for Bitcoin's superiority over gold, owing to its decentralized nature and efficiency. The conversation also touches on the rise of decentralized currencies amid societal disillusionment, revealing Bitcoin's role as a resilient alternative in today's volatile financial landscape.
01:27:22
forum Ask episode
web_stories AI Snips
view_agenda Chapters
menu_book Books
auto_awesome Transcript
info_circle Episode notes
question_answer ANECDOTE
Introduction to Austrian Economics
Allen Farrington got into Austrian economics through his father's influence. He found mainstream economics confusing and sought out Austrian literature for clarity.
insights INSIGHT
Bitcoin and Austrian Economics Connection
Understanding Austrian economics helps in grasping Bitcoin's significance. It reveals how Bitcoin serves as a real alternative to fiat money.
question_answer ANECDOTE
Writing Viral Articles
Allen wrote a series of articles during lockdown, exploring Bitcoin's implications without external references. He aimed to reason out Bitcoin's significance purely from first principles.
Get the Snipd Podcast app to discover more snips from this episode
Published in 1687, 'Philosophiæ Naturalis Principia Mathematica' is a comprehensive treatise that establishes the principles of modern physics. The book is divided into three main sections and includes preliminary chapters on definitions and axioms. It introduces Newton's three laws of motion and the law of universal gravitation, explaining phenomena such as the motion of bodies, fluid dynamics, and the behavior of celestial bodies like planets and comets. The work also includes discussions on hydrostatics, hydrodynamics, and acoustics, and it systematizes a method for studying nature through mathematical means. Newton revised and expanded the work in subsequent editions published in 1713 and 1726[1][3][5].
Socialism
An Economic and Sociological Analysis
Ludwig von Mises
This book is a definitive refutation of nearly every type of socialism ever devised. Mises presents a wide-ranging analysis of society, comparing the results of socialist planning with those of free-market capitalism in all areas of life. He argues that a socialist commonwealth cannot apply economic calculation due to the absence of market prices, and defends capitalism against various criticisms. The book addresses issues such as economic inequality, the impossibility of monopoly in a free market system, and the inefficiencies of centrally planned systems.
The Prince
Niccolo Machiavelli
Written in the early 16th century, 'The Prince' is a realistic instruction guide for new rulers. Machiavelli argues that an effective leader must be skilled in the art of war, sometimes cruel, and willing to use deception and manipulation to achieve political goals. The book is divided into chapters that discuss various types of principalities, how to acquire and maintain power, and the qualities a prince should possess. Machiavelli uses historical examples, including the career of Cesare Borgia, to illustrate his points. The treatise emphasizes the importance of maintaining the goodwill of the people and the stability of the state, even if it means deviating from traditional virtues. 'The Prince' remains a controversial but influential work in modern political philosophy.
My interview with Bitcoin icon Allen Farrington.
We talk about - Bitcoin and Austrian Economics, - Allen’s historical articles, - Friedman and inflationism, - What’s next for Bitcoin with the economy - Trump and the Bitcoin Reserve.
Peter St Onge Podcast 
