AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
2min snip
#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
Lex Fridman Podcast
Stability is the Illusion; Growth Embraces Instability
Inflation acts as a stimulant in the short term but ultimately disrupts essential feedback mechanisms in the economy. While it may temporarily reduce market volatility, it hinders the necessary process of capital allocation and adjustment, leading to prolonged economic distortions. The market relies on the clearing of malinvestments, where misallocated resources must face consequences to realign with consumer demands. Efforts to mitigate short-term volatility by institutions like the Central Bank only serve to exacerbate long-term fluctuations, as true economic growth is fundamentally tied to instability and continuous adaptation. Therefore, seeking stable growth is a misguided approach, as growth inherently involves navigating and embracing volatility.
00:00
Transcript
Episode notes
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode