We live in an extraordinary time. Technological advances are happening at a rate faster than our ability to understand them, and in a world that moves faster than we can imagine, we cannot afford to stand still. These advances bring efficiency and abundance—and they are profoundly deflationary.Our economic systems were built for a pre-technology era when labour and capital were inextricably linked, an era that counted on growth and inflation, an era where we made money from inefficiency. T...

In The Fiat Standard, world-renowned economist Saifedean Ammous applies his unique analytical lens to the fiat monetary system, explaining it as a feat of engineering and technology just as he did for bitcoin in his global bestseller The Bitcoin Standard. This time, Ammous delves into the world's earlier shift from the gold standard to today's system of government-backed fiat money—outlining the fiat standard's purposes and failures; deriving the wider economic, political, and social impli...

In this fascinating deep dive into the evolution of monetary systems around the globe, Nik Bhatia takes us into the origins of how money has evolved to function in a "layered" manner. Using gold as an example of this term, he traces the layers of this ancient currency from raw mined material, to gold coins, and finally to bank-issued gold certificates. In a groundbreaking manner, Bhatia offers a similar paradigm for the evolution of digital currencies. Bhatia's analysis begins in Renaissan...

**The classic history of the political and economic devastation wrought by runaway inflation in Weimar Germany—“**brilliant” (Guardian)In 1923, with its currency effectively worthless (the exchange rate in December of that year was one dollar to 4,200,000,000,000 marks), the German republic was all but reduced to a barter economy. Expensive cigars, artworks, and jewels were routinely exchanged for staples such as bread; a cinema ticket could be bought for ...

Principles of Economics is a university-level textbook in economics that offers a clear and concise exploration of the most important economic concepts.This book is unapologetically Austrian in its approach. It tackles major economic concepts and topics independently, but in a logical sequence aimed at delivering the reader an understanding of economics at an individual and societal level, and the widespread implications of economics as a topic. The first part of the book introduce...

The true story of the rise of Ethereum, the second-biggest digital asset in the world, the growth of cryptocurrency, and the future of the internet.Everyone has heard of Bitcoin, but few know about the second largest cryptocurrency, Ethereum, which has been heralded as the "next internet."The story of Ethereum begins with Vitalik Buterin, a supremely gifted nineteen-year-old autodidact who saw the promise of blockchain when the technology was in its earlies...

Have you, like the rest of the world, speculated as to the identity of Satoshi Nakamoto, anonymous creator of Bitcoin? The world's first cryptocurrency, Bitcoin went online in 2009 and has since revolutionized our concepts of currency and money. Not supported by any government or central bank, completely electronic, Bitcoin is a virtual currency based on advanced cryptographic systems. Like the currency he created, the identity of Bitcoin's creator Satoshi Nakamoto is virtual, existing onl...