“Be happy for your successes but never stop learning. There is always more to know because the world is ever changing, and none of us can know all things. The key to thriving in this life is to be prepared to not only change with it but to get in front of the change and drive it. From where you are now, unemployed with few seeming prospects, your future might look hopeless. This is not true. There are barriers, to be sure, but they are there to be overcome by you and you alone. The world does not work like you were told it works when you were a kid. Deal with it and start engaging the reality around you right now just as it is, using intelligence, cunning, and charm. You are the decision-maker, and whether you succeed or fail ultimately depends on the decisions you make. In many ways, you are a victim of a system that has conspired against you. But you get nowhere by acting like a victim. You don’t need to be a victim. You have free will and the capacity for self-governance; indeed you possess the human right to choose. Today is the day to start exercising it.”
—Jeffrey Tucker, “Advice to Young Unemployed Workers,” The Freeman.
Some of you need to hear that.
“The real theory of trickle down is actually advocated by the interventionists and socialists. They think that if we tax everyone and give money to the government, it will eventually come trickling down to the middle class and the poor. Same with power. If we give more power to the state to regulate and run our lives, this power will trickle down to the rest of us. But if you want to talk of implausible theories, this is surely it. Government’s power and money doesn’t trickle down. It takes money and pours it into ever more bureaucracy and gives it to the elites. Its power grows and grows at the expense of society. This is the experience of the whole of human history.”
—Jeffrey Tucker“Anarchy is all around us. Without it, our world would fall apart. All progress is due to it. All order extends from it All blessed things that rise above the state of nature are owed to it. The human race thrives only because of the lack of control, not because of it. I'm saying that we need ever more absence of control to make the world a more beautiful place. It is a paradox that we must forever explain.”
—Jeffrey Tucker“The cry of the dictator: "Today everything is terrible. Tomorrow everything will be great. Leave the transition to me.”
—Jeffrey Tucker, Power and Ideology in D.C.Jeffrey Tucker - What Bitcoin Is Teaching Us
lfb.orgJeffrey Tucker (@JeffreyATucker), editor of Lassez-Faire Books and past editorial vice president of the Ludwig von Mises Institute, posts how deflationary currency brings a change to what we know about money. Excerpts:
“None of us in living memory has had experience with a currency that rises in value. The emergence of Bitcoin — a digital currency that has grown in purchasing power over time — has changed that experience dramatically.”
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“The 20th-century experience flipped our expectations for what money should do. Especially in the postwar period, the falling value of the dollar punished savings and rewarded spending. This is exactly what the Keynesian economists hoped for. They wanted money always circulating and never ‘hoarded.’ ‘Deflation’ was to be avoided no matter what.”
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“Bitcoin is often described as a ‘deflationary’ currency. This is exactly why Paul Krugman hates it so much.”
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“Here’s what beautiful about this experience: It doesn’t matter in the slightest what Paul Krugman thinks. It doesn’t matter how many economic experts Paul Krugman lines up to oppose Bitcoin. It doesn’t matter how many Nobel Prize winners denounce it and oppose it. That’s because Bitcoin is not a “policy” invented by elite and privileged intellectuals. It is a market-based currency, one created by an entrepreneur and chosen by market players.”
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“That is an essential postulate of the free society. When government gets hold of the money, freedom is in peril. When the market makes and manages money, freedom has a built-in reinforcement in half of every transaction. In short, just based on our experience with Bitcoin so far, we see the conventional wisdom of a century completely turned on its head. Fantastic!”
- http://lfb.org/today/what-bitcoin-is-teaching-us
- http://bitcointalk.org/index.php?topic=171577.0 (Further discussion of the article)
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