Austrian Economics and Complex Systems with Rahim Taghizadegan (WiM376)

4 snips

Oct 9, 2023

Rahim Taghizadegan, economist, author, physicist, philosopher, investor, and entrepreneur, discusses the commonalities between Jungian psychology and Austrian economics, the problem with deterministic worldview, incentives' role in shaping human behavior, and whether Bitcoin is a fundamental innovation. They also explore the impact of technological change, distinguish between discovered laws and legislation, and discuss the importance of validation, replicability, and the relationship between language, math, and money.

Ask episode

Chapters

Transcript

Episode notes

Introduction

00:00 • 4min

Background and Journey into Austrian Economics and Bitcoin

03:47 • 10min

Behavior vs. Action: Understanding Human Behavior

13:39 • 17min

The Impact of Technological Innovation

30:10 • 22min

Exploring the Difference: Discovered Laws vs Legislation

52:25 • 10min

The Emergence of Empiricism and the Rejection of Metaphysics

01:02:19 • 4min

The Importance of Humility and Discovery

01:06:37 • 9min

Technological Change and the Shift to Einsteinian Theory

01:15:53 • 10min

The Importance of Validation and Replicability

01:25:46 • 27min

Language, Math, and Money

01:52:21 • 7min

A Discussion on Genius and the Success of Satoshi Nakamoto

01:59:43 • 3min

Bitcoin as Protocol Innovation and Market Competition

02:02:44 • 6min

The Influence of Incentives on Human Action

02:08:38 • 28min

The Evolution of Perspective

02:36:39 • 4min

Exploring Memetic Desire, Technological Change, and Old Papers

02:40:56 • 2min

Rahim Taghizadegan joins me to discuss what Jungian psychology and Austrian economics have in common, the problem with the deterministic worldview, the nature of incentives, and whether Bitcoin is a fundamental innovation.

Rahim Taghizadegan is an economist, author, physicist, philosopher, investor, and entrepreneur. He is the last Austrian economist of the Austrian School in the direct tradition.

// GUEST //
Twitter: https://twitter.com/scholarium_at
Website: https://scholarium.at/

// SPONSORS //
In Wolf's Clothing: https://wolfnyc.com/
iCoin Hardware Wallet (use discount code BITCOIN23): https://www.icointechnology.com/
CrowdHealth: https://www.joincrowdhealth.com/breedlove
Wasabi Wallet: https://wasabiwallet.io/
Bitcoin Apparel (use discount code BREEDLOVE): https://thebitcoinclothingcompany.com/
Feel Free Tonics (use discount code BREEDLOVE): https://botanictonics.com
Carnivore Bar (use discount code BREEDLOVE): https://carnivorebar.com/

// OUTLINE //
00:00:00 - Coming up
00:00:44 - Intro
00:02:17 - Helping Lightning Startups with In Wolf's Clothing
00:03:03 - Introducing Rahim Taghizadegan
00:03:47 - Rahim's Journey from Austrian Economics to Bitcoin
00:05:20 - Switching the Field of Interest
00:07:10 - Recommended Books
00:08:35 - Jungian Psychology & Austrian Economics
00:11:37 - The Complexity Theory
00:13:38 - Behavior vs. Action
00:18:19 - Praxeology
00:19:17 - Distinguishing Human from Animal
00:23:11 - 20th Century Crisis
00:30:10 - Innovation Led to Social Change
00:36:14 - Fighting Against the Demagogues
00:42:28 - Preservation of Privilege
00:43:24 - Guiding Light and the Narrative of Mythology
00:45:44 - Human Capability of Rational Argumentation
00:47:30 - Following the Leader
00:51:35 - Rules vs. Regulation
00:53:10 - Differentiating Epistemology & Philosophy
00:55:16 - Replacing Philosophy with Science
01:01:05 - Simplicity vs. Complexity
01:02:23 - Secure Your Bitcoin Stash with the iCoin Hardware Wallet
01:03:19 - Mismanagement of Science
01:07:07 - Science is Not the Only Answer
01:10:38 - DDT Pesticide Disaster
01:12:53 - The Line Between Proper Intervention and Abuse
01:16:02 - From Newtonian Theory to Einsteinian Theory
01:19:41 - Problem with the Newtonian Worldview of Human Beings
01:22:29 - Difference Between Theory and Observation
01:26:43 - Attributes of Real Science
01:29:04 - Tradition of Speculation & Exaggeration
01:33:38 - Choosing the Right Facts
01:35:23 - Verifying the Ideals
01:38:13 - Spotting the Irregularities and Discussing Metaphysics
01:43:27 - Axiom of Action
01:46:11 - Predicting Human Behaviour
01:49:22 - The Freedom to Choose
01:52:31 - The Metaphor of Language & Money
01:55:28 - Bitcoin is an Idealized Money
01:57:46 - Is Bitcoin Discovered or Invented?
02:00:17 - Take Control of Your Healthcare with CrowdHealth
02:01:18 - A Bitcoin Wallet with Privacy Built-In: Wasabi Wallet
02:02:10 - Bitcoin a Fundamental Innovation
02:03:42 - Can Bitcoin Be Established in Today’s World?
02:07:40 - The Nature of Incentives
02:11:06 - How Incentives Influence Action
02:17:32 - Fiat Currency Incentivizes Debt
02:21:09 - How Incentives Interact with Morality
02:25:25 - Restructuring the Incentives
02:29:13 - Private Property & Social Cooperation
02:32:20 - Being an Entrepreneur of Change
02:37:02 - Bitcoin Enhances Private Property
02:39:33 - The Feedback Loops of Bitcoin
02:41:27 - How to Find Rahim's Work

// PODCAST //
Podcast Website: https://whatismoneypodcast.com/
Apple Podcast: https://podcasts.apple.com/us/podcast/the-what-is-money-show/id1541404400
Spotify: https://open.spotify.com/show/25LPvm8EewBGyfQQ1abIsE?
RSS Feed: https://feeds.simplecast.com/MLdpYXYI

// SUPPORT THIS CHANNEL //
Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7
Sats via Strike: https://strike.me/breedlove22
Sats via Tippin.me: https://tippin.me/@Breedlove22
Dollars via Paypal: https://www.paypal.com/paypalme/RBreedlove

// WRITTEN WORK //
Medium: https://breedlove22.medium.com/
Substack: https://breedlove22.substack.com/

// SOCIAL //
Breedlove Twitter: https://twitter.com/Breedlove22
WiM? Twitter: https://twitter.com/WhatisMoneyShow
LinkedIn: https://www.linkedin.com/in/breedlove22
Instagram: https://www.instagram.com/breedlove_22
TikTok: https://www.tiktok.com/@breedlove22
All My Current Work: https://vida.page/breedlove22