Market forces and Fractional Reserve Banking
Peter Šurda Ralph Musgrave made a blog post “Lawrence White Tries to Argue for Fractional Reserve Banking” where he criticises some of the arguments made by Lawrence White in testimony on his…
the economics of avoiding real resource consumption in cryptocurrency mining
Iain Stewart Readers of this blog might be interested in my proposed alternative to the “proof of work” mining system that currently underpins Bitcoin. I call it “proof of burn”. Its motive…
What am I doing here?
Let me tell you something about me. I want to explain why I started this blog and what I intend to do with it. My primary goal is not to…
Response to Philip Pilkington on Deflation
Philip Pilkington made a post criticising the idea that price deflation is if not beneficial, then at least non-neutral from economic point of view: http://www.nakedcapitalism.com/2012/09/philip-pilkington-the-19th-century-long-depression-how-it-fostered-oligopolistic-capitalism-and-serves-as-a-model-for-austerity.html This post was also reposted…
Response to Hülsmann & Hoppe from PFS 2012 Q&A session day two
Professors Hülsmann and Hoppe answer a question from the audience about Bitcoin around 32 minutes into the video here: http://propertyandfreedom.org/2012/12/day-2-question-answer-session-pfs-2012/ This is a quick response to them. Hülsmann argues: “It’s…