The Future Is Precarious

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The future has become more uncertain due to the complexity of modern times, leading to a higher level of short-term thinking and decreased long-term planning. This has resulted in lower savings rates and impacts decision-making across all aspects of society. The comparison is drawn to hyperinflation scenarios where individuals focus on immediate survival with little regard for the future. In times of uncertainty, people tend to prioritize survival over long-term goals, affecting morality, economics, and decision-making. The shift towards short-term thinking is evident in various aspects of society, including architecture, where durability has given way to short-lived structures.

Saifedean Ammous is an Austrian economist and author of The Bitcoin Standard and The Fiat Standard. Please support this podcast by checking out our sponsors:
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OUTLINE:
Here’s the timestamps for the episode. On some podcast players you should be able to click the timestamp to jump to that time.
(00:00) – Introduction
(07:53) – Money
(20:58) – Gold standard
(34:09) – Collective hallucination
(39:59) – Austrian vs Keynesian economics
(1:12:20) – Free market
(1:28:49) – Monarchy
(1:34:23) – Fiat money
(2:21:13) – SWIFT system
(2:34:03) – Bitcoin
(2:40:20) – Satoshi Nakamoto
(2:48:04) – Criticisms of Bitcoin
(3:03:16) – Football/soccer
(3:06:58) – Criticisms of Bitcoin continued
(3:17:17) – Bitcoin Maximalism
(3:29:40) – Proof of stake
(3:46:46) – Central bank digital currency
(3:57:59) – Michael Malice
(4:00:12) – Advice for young people
(4:06:21) – Palestine
(4:18:00) – Mortality