The Bitcoin Boomers Money is DYING Because Bitcoin Killed it - Lawrence Lepard, Gary Leland, Bob Burnett, Bob Murphy
Nov 23, 2025
A lively exploration of economics unfolds as experts tackle Modern Monetary Theory's flaws and the impact of inflation. They debate the generational shifts in saving and spending behaviors while critiquing central planning versus market processes. The talk turns to AI's potential for job displacement and the possibilities of Universal Basic Income. Bitcoin is highlighted as a revolutionary form of private money, sparking discussions on its long-term value and practicality in modern commerce. Multinationals and robotics also shape the conversation about future economic power dynamics.
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Why Economic Schools Persist
- Economics hosts competing schools because controlled experiments are impossible and ideology fills gaps.
- Bob Murphy says models can be internally consistent yet non-falsifiable, letting experts fit stories to data.
MMT's Accounting Trick
- Modern Monetary Theory leans on accounting tautologies but can be misleading about real wealth.
- Murphy argues government IOUs aren't real private-sector wealth because taxes or printing pay them off.
Be Skeptical Of MMT Assurances
- Avoid trusting MMT promises that deficits carry no consequence; expect inflation risks.
- Bob Burnett and Lawrence Lepard urge skepticism and warn governments rarely execute perfect inflation controls.
