Fixing The Incentives: The Fiat Treadmill Keeps Us From Storing Value
By Jimmy Song Jimmy Song argues that the modern world's self-destructive behavior is caused by the terrible incentives of fiat money. He focuses on the lack of good stores of value in the economy, caused by Keynesian economic policies that justify inflation to make it look economically productive.
Traditional stores of value, including real estate, stocks and gold, all have critical flaws that make saving more difficult. Song suggests that Bitcoin changes people's mental models, helping them save money and take their lives more seriously.
This article aims to explore how incentives have gone awry at the personal/individual level, the company/group level, the national/country level, and the level of the entire world, building from the bottom up. | 