Austrian Economics, Anarchy & The State - Saifedean Ammous

"The extent to which the State exists is the extent to which it violates property rights."

On this CLIP of THE Bitcoin Podcast, Walker talks with Saifedean Ammous, an economist and internationally best-selling author of The Bitcoin Standard, The Fiat Standard, and his latest Principles of Economics.

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OVERVIEW:
The key contribution of the Austrians was the recognition that the failure of socialism was not due to lack of motivation, but rather the inability to perform economic calculation. The issue was that the managers of publicly owned economic institutions could not calculate because they did not own the means of production. This is often overlooked in discussions of Austrian economics. Applying the concept of economic calculation to the question of security and defense reveals that protection from violence is just another economic good. Private security is more efficient and cost-effective than public security. The market can provide defense and security services just like any other good.
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SAIFEDEAN'S LINKS
X: https://twitter.com/saifedean
Nostr: npub1gdu7w6l6w65qhrdeaf6eyywepwe7v7ezqtugsrxy7hl7ypjsvxksd76nak
Website: https://saifedean.com/
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CHAPTERS
00:00 The Failures of Socialism and Communism
02:40 Contributions of the Austrian School
03:20 The Reality of Anarchy
03:50 Why Does the State Suck?
04:20 The #Bitcoin Rabbit Hole
05:00 Defense & Security as Economic Goods
07:15 The Market vs The State
08:45 The Potential Benefits of Monarchy

#austrianeconomics #economics #government #politicalinsights #politicaltheory #privateproperty #propertyrights #bitcoinpodcast #bitcoin #saifedean #anarchy