WiM037 – The Power of Choice with Bob Murphy

Boby Murphy joins me for a deep conversation about the principles of economics. Be sure to check out NYDIG, one of the most important companies in Bitcoin: https://nydig.com/ GUEST Bob’s twitter: https://twitter.com/BobMurphyEcon Bob’s show: https://www.bobmurphyshow.com/ Bob’s book “Choice”: https://www.amazon.com/Choice-Cooperation-Enterprise-Human-Action/dp/1598132180 CHANNEL Podcast Website: https://whatismoneypodcast.com/ Apple Podcast: https://podcasts.apple.com/us/podcast/the-what-is-money-show/id1541404400 Spotify: https://open.spotify.com/show/25LPvm8EewBGyfQQ1abIsE?si=wgVuY16XR0io4NLNo0A11A&nd=1 RSS Feed: https://feeds.simplecast.com/MLdpYXYI Transcript: EPISODE 00:00:00 “What is Money?” Intro 00:00:05 NYDIG 00:01:22 “Choice”: A Complement to “Human Action” 00:06:55 How Economics differs from Natural Sciences 00:13:14 Economics vs. Economic History 00:16:04 Empiricism vs. Rationalism 00:24:19 Praxeology: The Science of Human Action 00:35:30 Teleology: The Study of Purpose 00:41:07 Actor Preferences and Value 00:48:22 The Inequality of Exchange 00:53:48 The ‘Water and Diamonds Paradox’ 01:02:06 “On the Origin of Money” 01:09:42 Apriori, Aposteriori, Apodictic 01:17:51 Ideologies and Public Opinion 01:23:06 Dispelling False Doctrines 01:30:44 Political Polarization and Fiat Currency 01:34:19 “The End of Western Civilization” 01:36:39 Bitcoin and the Restoration of Civilization 01:43:47 Economics that Makes Sense SOCIAL Breedlove Twitter: https://twitter.com/Breedlove22 WiM? Twitter: https://twitter.com/WhatisMoneyShow LinkedIn: https://www.linkedin.com/in/breedlove22/ Instagram: https://www.instagram.com/breedlove_22/ TikTok: https://www.tiktok.com/@breedlove22?lang=en All My Current Work: https://linktr.ee/breedlove22​ WRITTEN WORK Medium: https://breedlove22.medium.com/ Substack: https://breedlove22.substack.com/ WAYS TO CONTRIBUTE Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7 Sats via Strike: https://strike.me/breedlove22 Sats via Tippin.me: https://tippin.me/@Breedlove22 Dollars via Paypal: https://www.paypal.com/paypalme/RBreedlove Dollars via Venmo: https://venmo.com/code?user_id=1784359925317632528 The "What is Money?" Show Patreon Page: https://www.patreon.com/user?u=32843101&fan_landing=true BUSINESSES I LIKE: Automatic Recurring Bitcoin Buying: https://www.swanbitcoin.com/breedlove/ Use Discount Code "Breedlove" for Bitcoin Custody w/ Casa: https://keys.casa/#plans Buy Bitcoin in a Retirement Account w/ DAIM: https://daimio.typeform.com/to/oU5OHXMZ Worldclass Bitcoin Financial Services: https://nydig.com/