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Carl Watner: The Tragedy of Political Government
6.6.2020
“What is tragic about political government?” you might ask. Let us return to that question once we have examined the nature of political government and the State. In order to distinguish between government and other institutions in society we must look at the ways human behavior can...
Carl Menger: The Nature and Origin of Money
23.5.2020
In the early stages of trade, when economizing individuals are only slowly awakening to knowledge of the economic gains that can be derived from exploitation of existing exchange opportunities, their attention is, in keeping with the simplicity of all cultural beginnings, directed only to the most...
Never Mind Hodlers, Crypto Needs More Opportunist Investors
20.2.2020
The crypto markets need more investors who come and go and who aren't solely crypto investors, says CoinDesk columnist Jeff Dorman
Silk Road Mentor’s Arrest Rekindles Tales of Rogue Agents and Pirate’s Treasure
3.2.2020
On January 30, the United States Attorney for the Southern District of New York (SDNY) revealed that Roger Clark, the alleged senior advisor to the Silk Road marketplace, pleaded guilty to conspiring to distribute massive quantities of narcotics. Clark, otherwise known as ‘Variety...
Hierarchies of Money: Why You Use Bank Money But the Bank Wants Reserve Currency
31.1.2020
While people tend to think of money as being all the same, the fact is governments and banks use different types of money than the everyday individual. From the top of the economic pyramid of world reserve currencies, down through central bank and commercial bank money, the capacities and function...
The Silk Road Investigation: A ‘Pattern of Bad Behavior and Double Agents’
23.10.2019
Kathryn Haun, a general partner at U.S. venture capital firm Andreessen Horowitz, has revealed in recent interviews how she helped take down the Silk Road when she was working for the Attorney General’s office. According to her accounts, the U.S. government agency also asked her to help...
Is Bitcoin Money? Revisiting Mises’ Regression Theorem
25.7.2019
Over 100 years after the publication of Austrian economist Ludwig von Mises’ “The Theory of Money and Credit,” the ideas outlined therein are still sparking hot debate. Namely, what is known as Mises’ Regression Theorem, which claims that in order for something to be money...
Plea Bargain Means Silk Road 2 Admin Will Likely See No Prison Time
1.6.2019
Following the sentencing of Thomas White, the founder of the Silk Road 2 (SR2) marketplace during the first week of April, another SR2 administrator may evade prosecution. According to reports, SR2 admin Blake Benthall cooperated with global law enforcement and may only face fines for avoiding...
Our Value of Money Is Subjective But That Doesn’t Make It Meaningless
14.5.2019
In my last op-ed, I discussed how the value we place on items and goods is subjective based on Carl Menger’s Subjective Theory of Value and how these concepts apply to people’s perception of value with things like fiat, gold, and bitcoin. The post outlined the idea that money cannot...