Sound money is necessary but insufficient to create prosperity

Do Austrian Economics principles apply to bitcoin as it functions today? And if so, how do those principles enable bitcoin to help poor people? What other factors besides sound money are necessary to create prosperity? In this episode, Ragnar debates these questions with Stephan Livera, a speaker on Austrian Economics and the co-founder of the Australian Bitcoin education venture Ministry Of Nodes.

HIGHLIGHTS

• Poverty is the default state of mankind
• Defining not-poverty. Prosperity?
• Factors of poverty to prosperity: Culture, IQ, values, natural resources, capital, technology, composition of economy, money
• Role of money in poverty and prosperity
• Bitcoin and poverty – theory of sound money leading to increasing value of currency, while creating a structural changes to an economy. Has bitcoin alleviated poverty in the past and present?

RESOURCES

• Stephan Livera’s Twitter, Podcast, and education venture Ministry Of Nodes
• Summary of Austrian Economics by The Mises Institute