Sublime

Government‐issued unsound money, however, can stall this process, keeping unproductive firms undead but not truly alive, the economic equivalent of zombies or vampires drawing on the resources of the alive and productive firms to produce things of less value than the resources needed to make them. It creates a new societal caste that exists accordi

Relative stability of value is not just important to preserve the purchasing power of holders' savings, it is arguably more important for preserving the integrity of the monetary unit as a unit of account. When money is predictably stable in value due to the small variation in supply and demand, it can act as a reliable signal for changes in prices

money is the market good with the least diminishing marginal utility.

Today government‐approved economics curricula still blame the gold standard for the Great Depression. The same gold standard which produced more than four decades of virtually uninterrupted global growth and prosperity between 1870 and 1914 suddenly stopped working in the 1930s because it wouldn't allow governments to expand their money supply to f

Bitcoin already appears to satisfy all the requirements of Menger, Mises, and Hayek: it is a highly salable free‐market option that is resistant to government meddling.