You've been mislead about the environmental cost of cryptoart NFTs
The calculations of cryptoart.wtf ignore the central role of the Ethereum network subsidy in incentivizing mining. This mistake invalidates the site's findings.…
Posts tagged with economics
PSYOP versus the mutual benefit of trade
It is false that voluntary exchange always benefits both parties in the ex ante sense. At least some voluntary exchanges are precipitated by factors not under conscious control, and thus not sensitive to expectation of benefit in the usually understood sense.…
Bitcoin has no intrinsic value. Neither does gold.
Bitcoin doesn’t have intrinsic or inherent value. This isn’t as serious a handicap as it might seem, because nothing has intrinsic value. Not government notes, not gold, not even grain, or salt.…
Exploitation Theory Was Obsoleted Long Ago
Marxist accounts of the injustice of capitalism can sound plausible. But there's a foundational mistake in Marx’s exploitation theory.…