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| Subject: Via Anarcho-Capitalists' Forum: What Do Free Markets Advocates Think About Bitcoin? Sat May 26, 2018 3:20 am | |
| What libertarians, anarcho-capitalists, and proponents of the Austrian school of economics, all have in common is their love for free markets and disdain for state intervention.
Many evangelists of these schools of thought have thus publicly praised decentralized digital currencies, such as bitcoin, as they provide individuals with personal financial sovereignty and allows them to store their wealth in an asset whose value cannot be controlled by the actions of central banks. However, not all free market advocates believe that bitcoin should have a valid place in the economy.
What are “Free Markets?” In economics, the term “free markets” refers to an economic system where prices for goods and services are determined purely by market forces – driven by consumers and the open market – without any government interference on pricing or market structure. A free market economy is based on a spontaneous order of arrangements where individuals decide to engage in voluntary economic activity without the control of central governing authorities. This creates unobstructed competition, which – in theory – should allow for fair pricing and the most possible wealth for the highest amount of people within this economy.
Who Said What About Bitcoin? While bitcoin – and cryptocurrency in general – fit into the free market spirit, opinions about its validity as money differ among leading figures in the libertarian and anarcho-capitalist realm.
Ron Paul Ron Paul is an author and former politician who has established himself as the most influential libertarian thought leader in the U.S. after having run for the U.S. Presidency three times during his active political careers. He is an advocate for the Austrian school of economics and a Senior Fellow of the Mises Institute and has been very outspoken about why the Federal Reserve should be abolished, most notably in his book End the Fed.
More: https://btcmanager.com/what-do-free-markets-advocates-think-about-bitcoin/ |
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