Oddbean

UFC lightweight Renato Moicano 🎤: "If you care about your country, read Ludwig Von Mises' 6 lessons of the Austrian Economic School motherf*ckers" MMA fighters shilling Austrian Econ, classic!👀🔥 Ludwig von Mises - 6 Lessons of Austrian Economics School 🧵 1. Subjective Value Theory: Economic value is subjective and varies from person to person. This theory underlines the idea that individuals assign value to goods and services based on their own preferences and needs. 2. Methodological Individualism: Methodological approach that focuses on individual human action as the fundamental unit of analysis in economics. This perspective highlights the importance of understanding the actions and decisions of individuals in shaping economic outcomes. 3. The Calculation Problem: In a centrally planned economy, without the use of market prices for the means of production, rational economic calculation becomes impossible, leading to inefficiency and resource misallocation. 4. Spontaneous Order: Suggests that complex social phenomena, including economic systems, emerge organically from the interactions of individuals pursuing their own interests. This idea contrasts with central planning and highlights the benefits of decentralized decision-making. 5. Time Preference Theory: It explains how individuals value present consumption over future consumption. This theory helps to understand saving, investment, and interest rates in the economy. 6. The Business Cycle Theory: Business cycles are primarily caused by fluctuations in the money supply, particularly through credit expansion by central banks. He emphasized the importance of maintaining a stable monetary system to avoid economic instability. Read Mises, study Bitcoin!🧡 Study, learn, hodl, decouple. #bitcoin 🧡 ▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃ My savings account: Bitcoin The tool I recommend for setting up a Bitcoin savings plan: @Relai 🇨🇭 🇨🇭 especially suited for beginners or people who want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info. ⠀⠀⠀⠀ Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It’s that simple.🎯 ⠀⠀⠀⠀⠀⠀⠀⠀ Do you think this post is helpful to you? If so, please share it and support my work with sats. 🧡 Felipe - BitcoinFriday #zap 🧡 #nostr #BTC #Bitcoin #plebchain #grownostr #stacksats #bitcoineducation #adoption