life$tyle on Nostr: The simplification of finance (from commodity>money>commondity, to M>C>M, to simply ...
The simplification of finance (from commodity>money>commondity, to M>C>M, to simply M) mirrors the simplification of political thought and the ossification of failed institutions.
I think it's a gross oversimplification of a lot of Bitcoiners who don't understand finance (like me) to say that Bitcoin fixes everything, but simply based on the principle that the source of wealth in a capitalist system is the freedom of individuals to participate in and benefit from the economy, it behooves us all to move towards a system where the money is tied directly to actual commodities, especially the commodity that makes the whole thing work: labour.
https://www.lrb.co.uk/the-paper/v46/n17/john-lanchester/for-every-winner-a-loser
I think it's a gross oversimplification of a lot of Bitcoiners who don't understand finance (like me) to say that Bitcoin fixes everything, but simply based on the principle that the source of wealth in a capitalist system is the freedom of individuals to participate in and benefit from the economy, it behooves us all to move towards a system where the money is tied directly to actual commodities, especially the commodity that makes the whole thing work: labour.
https://www.lrb.co.uk/the-paper/v46/n17/john-lanchester/for-every-winner-a-loser