In a recent episode of Power Hour , Alex Epstein interviews Dr. Saifedean Ammous on economics, energy and Bitcoin. They touch on a profound idea as they use Austrian Economics to draw parallels between crypto-currency as a store of value and fossil fuels as a store of energy: that the ultimate measure of value for humans is time . Time is something that is finite and precious to each of us. I don’t know how much of it I will have in my lifetime, but being in my early 40’s it’s quite likely I’ve exhausted half my allotment already. Perhaps I only have a few days; I can never be certain. The same goes for everyone else, young and old, rich and poor. Time is a primary reason why our value judgements are so subjective. We prefer to spend our time doing different things, so the goods and services we desire are quite varied. There’s also no end to our economic demands, because there will always be a market for products that save us time. Whether it’s food delivery ser...
A discussion on political, economic and social issues in British Columbia, and Canada