A new look at the Velocity of Money, what it can tell us about the structure of the payment system, and what it might mean for a more sustainable approach to economic growth.| ebuchman.github.io
Last year I read F.A. Hayek’s The Road to Serfdom and Karl Polanyi’s The Great Transformation back to back. Both published in 1944, these great works of political economics were attempts by their authors to grapple with the collapse of western civilization into the fascist totalitarianism of the Second World War. For Hayek, a classical liberal, totalitarian tragedy follows inevitably from the authoritarianism of State Socialism. For Polanyi, who was more of an economic sociologist, the fa...| ebuchman.github.io
An exploration of why Bitcoin is better for the world than Tesla. Contents include: The Problem with Tesla; the Promise of Bitcoin; Monetary Institutions and Political Economy; Proof of Work and International Trust; Mining is Not as Bad As You Think; What About Proof of Stake?| ebuchman.github.io