64. Fiat economic models
The Bitcoin Standard Podcast

64. Fiat economic models

Jun 20 2021 • 1hr 10m
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Show Notes

This seminar discusses the problems of economic modeling, using examples from environmental, energy, and macro economics. Saifedean explains how his graduate school experience trying to model energy markets led him to appreciate Mises' calculation problem and the problems of complex quantitative predictive models. What are the problems with attempting to quantify economic and environmental impacts of different fuels? Are the models being applied to bitcoin mining useful? As these absurd models bring fear-mongering to bitcoin mining, will they change bitcoin, or will their flimsy foundations be exposed by the kind of people who like to use a technology built on 100% verification and 0% trust?Links referenced:The Skeptical Environmentalist by Bjorn LomborgBjorn Lomborg on Twitter: @BjornLomborgThe Bitcoin Standard Podcast episode Allen Farringdon’s Adventures with Fiat IntellectualsDynamic stochastic general equilibrium modelling on the short-term impact of a vote to leave the European Union by HM TreasuryArticle explaining forecast failures by the Spectator  Enjoyed this episode? You can take part in podcast seminars, access Saifedean’s courses and read chapters of his forthcoming books by becoming a member. Find out more here.THE BITCOIN STANDARD TOOLKIT/SPONSORSNYDIG - https://nydig.comCyphersafe - OKCoin - - - App -
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