In this episode, Nik is joined by author Saifedean Ammous for a masterclass on economics. Saifedean teaches us about the importance of property rights in a capitalistic system and why anti-capitalist rhetoric can be so dangerous. He also explains the role of bitcoin, allowing people to properly save instead of consume. Limited government, taxes, and privately-funded infrastructure are also discussed.
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Chapters:
00:00:00 - The Importance of Property Rights
00:06:24 - The Alternative to Government is Property Rights
00:12:21 - The Complicated Nature of the Potato Industry and Potential Conflicts
00:17:57 - The Importance of Capital
00:23:49 - The Productivity of Capital: From Sailing Boats to Massive Ships
00:29:21 - The Importance of Delayed Gratification and Sacrifice
00:34:45 - The Role of Private Property in a Capitalist Economy
00:40:37 - The Importance of Saving and Hard Assets
00:46:37 - The Difference between Saving and Investing and the Value of Hard Assets
