Chapter
The Economics Behind Money
33:38 - 46:28 (12:49)
The value of a currency lies on its supply and demand, and the most successful currencies are those with the least expensive inflationary central banks. However, in the current economic reality, fiat money prevails as predominantly credit.
Clips
The value of a currency depends on factors such as inflation, central bank policies, and public belief in its worth.
33:38 - 41:31 (07:52)
Economics
Summary
The value of a currency depends on factors such as inflation, central bank policies, and public belief in its worth. Money is just a technology and its worth is based on societal confidence in its use as a medium of exchange.
ChapterThe Economics Behind Money
Episode#284 – Saifedean Ammous: Bitcoin, Anarchy, and Austrian Economics
PodcastLex Fridman Podcast
In a world where water is abundant, its marginal value is low.
41:31 - 46:28 (04:57)
Economics
Summary
In a world where water is abundant, its marginal value is low. In comparison, diamonds have a higher value because they're rare and scarce.