Long-term economic thinking is conducive to moral behavior. Low inflation helps us think long-term, allowing us to worry about the uncertain present while maintaining sanity over the future. 

ex: Think of a wine maker selling wine at $20/bottle. When a Central Bank doub...

During the hunter-gatherer age, property was anything you could defend. Agriculture, however, allowed for economic surplus, which led to specialization & trade. For such a society to thrive property rights needs to be enforced without violence. 

States appeared as production protect...

Money is a universal means of exchange. A technology that is enabled by something that has the highest proportion of trading ability to its utility (gold can be used for trade but also for jewelry & chips).

Money needs 5 characteristics. It needs to be:

1. ...

The type of money that wins in a competition (say bitcoin vs the others) will have the deepest liquidity and most network effects. 

Bitcoin so far has the most active participants which make it the default alternative to gold. 

Entropy, the second law of thermodynamics, states that every closed system tends towards greater disorder. But life, as expressed through the Logos, is the anti-entropic system: we are converting chaos into order. It is an ancient religious belief but also what entrepreneurs are ...

It is not the actual asset. It's the negotiated right to bear responsibility for an asset. And to own the fruits of exploiting an asset.

ex: when u own land it means the member of society agreed to your right of deciding to plant an orchard and to own t...

Humans have wants & needs and we express our values through our actions. As we move from a more valuable A to a less valuable B, we fall off course. Our intelligence is what allows us to error correct.

This definition presupposes purposes, which we tie to our consciousness...

We are ideas competing with each other. We manifesting through biological vehicles, which we call bodies. 

The theory came from Richard Dawkins Meme Theory: we evolve our ideas faster than our genes pushing the boundaries of biological evolution. 

Pragmatic truth exists in addition to the absolute (scientific) one. Pragmatic truth deals with the practical subjective experience. This is what markets are good for. 

Markets generate 3 forms of pragmatic truth:

1. Price: collective subjective demand of humani...