The Bitcoin Standard Podcast
222. Central Banking Works
May 21, 2024
Saifedean, economist and author, discusses the success of central banking from an Austrian school economist perspective. The podcast explores the efficiency of central banking as a monopoly and advocates for Bitcoin as a solution in the economic landscape. Topics include property rights, productivity, GDP, purchasing power, devaluation, and the future of money.
38:13
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Quick takeaways
- Central banking can be successful due to private ownership structure and economic calculation efficiency.
- Property rights are crucial for economic planning, as seen in successful economic systems with respected property rights.
Deep dives
The Controversy of Central Banking
The podcast explores a controversial idea presented by the speaker, admitting a change in mindset regarding the effectiveness of central banking. Despite being considered central planning, the speaker argues that from an Austrian perspective, central banks actually work due to their private ownership structure, where economic calculation is not hindered. The discussion challenges the common perception that central banking fails due to incentive issues, emphasizing the importance of property rights for economic calculation.
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