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publicintellectual

Bitcoin Debate & The Intellectual Halfheartedness

It is a curious sight indeed to see some Libertarian intellectuals who weigh in on the Bitcoin debate with their eyes wide shut; Next thing you know they start claiming that as a money Bitcoin has “no intrinsic value” or that it doesn’t fit well with Mises’ Regression Theorem… Poor Mises! He must be be […]

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fiat money

Bitcoin: A Fiat Currency?

fi·at n. 1. An arbitrary order or decree. 2. Authorization or sanction: government fiat. [Medieval Latin, from Latin, let it be done, third person sing. present subjunctive of fier, to become, to be done; see bheu- in Indo-European roots.] Robert Murphy, Austrian school economist who became better known in wider circles after challenging Paul Krugman […]

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