While it may not be obvious to Krugman, Bitcoin’s appeal comes from very fact that it is not controlled by governments or the central banks. It could also very well make the role of central banks completely irrelevant in the near future.
About Brittany Hunter
Brittany Hunter is an established writer who contributes to many top Libertarian and Austrian Economics publications. She studied political science with an emphasis in Constitutional studies at Utah Valley University and is currently working toward law school.
In addition to her work for Center for Individualism, Brittany is also an editor at Foundation for Economic Education and contributor for Mises Institute.
Entries by Brittany Hunter
The state of California claims that unregulated competition hurts the restaurant industry and those who have obtained all the proper permits. However, individuals engaging in voluntary exchanges have every right to take those risks if that is their prerogative. Government-issued permits do not ensure safety. If they did, there would be zero incidences of food contamination or food poisoning at restaurants.
The truth of the matter is, the Great Depression cannot be pinned on one particular thing alone. In fact, there were a series of unfortunate occurrences that ultimately led to, and prolonged, the Great Depression.
The best way to combat bad ideas is with good ideas. And by allowing a plethora of different opinions to be circulated on social media, you give individuals the opportunity to judge the merits of each opinion and ultimately make their own decision.
Country Time Lemonade just announced that it is assembling a team dedicated to protecting child-run lemonade stands. “Legal-Aide,” as it is so appropriately named, will help children launch their lemonade businesses by providing financial assistance to those met with licensing obstacles.
Everyone is familiar with the saying, “Give a man a fish, and you feed him for a day. Teach a man to fish, and you feed him for a lifetime.” Yet, as much as we have oft heard this phrase recited, few of us actually make use of this wisdom.
While most of the products in this museum appear to be duds, each one taught their respective innovators a valuable lesson about the market process. For Coca-Cola and Heinz, both companies learned that sticking to their original recipes was more beneficial when it came to sales revenue. With each failure comes a lesson that, in the end, has resulted in a win for the consumer.
But by understanding the root causes of a historical crisis as severe as the Great Depression, we stand a better chance at recognizing the potential for similar events to occur today. And if we know what warning signs to look for, we also stand a better chance at preventing future economic crises from occurring altogether.
We need not go around banning everything to obtain the world we want to live in. By using market forces to encourage behavior we stand a better chance and really creating substantial change.
Almost every aspect of our lives has been completely reshaped by technology. Where we once had to go out into the real world in order to meet new people and build relationships, we now use algorithms and smartphone apps instead. Cryptocurrencies, like Bitcoin have also completely redefined the way we view money and the entire financial world. But the implications of technological advancement can be felt in almost every sphere of our day to day lives, including our professional lives.
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