On the subject of money, entrepreneurs, invention, innovation

Jordan Peterson interviews a Brazilian-Lebanese-American economist of the Austrian School, Saifedean Ammous. Very good on the conception of what money is. Highly recommended value for your  investment in time.

  • Peterson at 28:15 on  the astonishing series of assumptions that lie behind the view that we can fix “global warming”. The fatal conceit that lies behind the idea that we can solve it – “fatal conceit” being a term that Hayek coined.
  • There follows a fascinating discussion of what kind of people entrepreneurs are: open to innovation and ideas (at 39:00).
  • The free market conception of money versus the statist conception of money. (at 42:00) Money is a product of the market, not the state.
  • Ammous says that Bitcoin is by definition the hardest currency, meaning least amenable to inflation.
  • The incentive of governments is to print money, which is enormously profitable to them.
  • Peterson: I am always more afraid of the solutions to climate change than I am to climate change. “The solutions terrify me.”
  • You cannot think long term about the planet when your wealth is continuously eroded by inflation. (at 58:00)

Ammous is the author of “The Bitcoin Standard”.   Fiat money is devaluing at 7% per year, meaning it loses about half its value in ten years. And what interest rates are you getting at the bank?

Your email address will not be published. Required fields are marked *