Internationally acclaimed economist and author Saifedean Ammous is challenging conventional economic thought with his latest book, “Principles of Economics.” Building on his prior best-selling books on bitcoin and fiat currency, Ammous makes a case for the virtues of capitalism and the importance of a stable money supply in his newest publication, offering a comprehensive look at economics through the lens of the Austrian school of thought.
In a recent interview on the Coin Stories podcast, Ammous delved into the foundations of capitalism, explaining why he believes it to be not just a beneficial, but necessary economic system. He argued that a market economy, driven by competition and the rational self-interest of individuals, fosters the most prosperous societies. This prosperity, according to Ammous, is intrinsically linked to a stable money supply.
Ammous expressed his concern over the idea of an ever-expanding money supply, a common feature in many modern economies dominated by central banks. He argued that such an approach erodes the purchasing power of currency over time, leading to less stable economic conditions and even societal values.
Further linking economic principles to societal issues, Ammous discussed the concept of time preference, suggesting that lower time preferences – or a greater emphasis on long-term planning and saving – can lead to more prosperous and ethical societies.
While his previous works, “The Bitcoin Standard: The Decentralized Alternative to Central Banking” and “The Fiat Standard: The Debt Slavery Alternative to Human Civilization” have focused largely on cryptocurrencies, Ammous maintains that his interest in bitcoin is not solely about the cryptocurrency itself. Rather, it’s about the evolution of monetary technology and its potential to provide a more stable and decentralized form of currency.
Ammous’s “Principles of Economics” was published in May 2023, and continues his tradition of challenging mainstream economic norms. Through his writings, Ammous presents a rigorous examination of economic principles that he believes have been neglected in the age of central banking and fiat currency.
While Ammous’ views may be controversial to some, his intellectual contributions to the economic and cryptocurrency landscapes continue to stir debate and discussion, ensuring his voice remains at the forefront of economic discourse.
For more information about Saifedean Ammous, his writings, or his views on economics and cryptocurrency, visit his website at www.saifedean.com. To learn more about the Coin Stories podcast, where this interview took place, visit www.talkingbitcoin.com.
