2012-08-26 forbes.com - Economist Appearing On Max Keiser Show Forced To Resign

[julz]

Economist Appearing On Max Keiser Show Forced To Resign

Jon Matonis
2012-08-26

http://www.forbes.com/sites/jonmatonis/2012/08/26/economist-appearing-on-max-keiser-show-forced-to-resign/

...
Frequently, I find myself challenging the orthodoxy of the Mises’ Regression Theorem on the origin of money when it comes to the nature and value of bitcoin as money.

Mises has written that, “Value is not intrinsic, it is not in things. It is within us; it is the way in which man reacts to the conditions of his environment.”

While I and other Austrians wholeheartedly agree with Mises on this, the notion of a decentralized bitcoin has eluded many in the economics profession.
...

[osmosis]

the referenced Max Keiser video is here: http://www.youtube.com/watch?v=dH5tT_FL0UU

Very disappointing to find Keiser going on a tremendous rant against automated trading.

[hazek]

the referenced Max Keiser video is here: http://www.youtube.com/watch?v=dH5tT_FL0UU

Very disappointing to find Keiser going on a tremendous rant against automated trading.

Heh both sides are behaving like children: "My idol was smarter!" other side: "No, my idol was smarter!" other side: "No, not true, my idol was smarter!" other side: "No, stop lying, my idol was smarter!" and bla bla bla


I deplore worshiping any man for anything. I only care about the truth and I care not who thought of it and is now spreading it. I also don't care if that person isn't entirely correct about everything because I know in advance no one is. I simply take what they are correct about and discard the rest with no regard for their reputation or prestige.

[marcus_of_augustus]

Lazlo's trade of two pizza's for 10,000 bitcoins are all you need to know to about why bitcoins have value now and Mises regression theorem ... it's not really all that mysterious, people will trade anything for anything, beanie babies, baseball cards, marbles ... beyond that it is the properties of the object that determine how well they satisfy the current market demands for certain attributes in a monetary object.

What I would find more puzzling is the monetisation of cigarettes in prison populations .... how does Mises regression theorem explain that one? That is definitely spontaneous monetary order forming around a physical object in a population that has extremely limited access to physical objects generally. Assuming the original cigarettes are brought into the prison as gifts and not traded using other items of value.

[cunicula]

lol