So whose your favourite economist?

[sehdal]

The related question would be which economist is most consistent with the ideas behind Bitcoin? But I didn't have space to ask that in the title.

I guess most people would go for someone in the Austrian School (but then which one of the Austrian School?)

Von Mises seems to be a sort of close precursor to Bitcoin but its also been argued that Bitcoin contradicts the regression theorem. Very simplistically, the idea that any currency must have an original basic value in itself before it becomes used as currency. I don't see that as a particularly strong objection but I have seen it referred to in one or two Von Mises Institute pieces.

I have seen the label Keynesian mentioned once or twice on the Bitcoin Forum as a critique, but you could also argue that Keynes (if you take a radical interpretation of Keynes, like Minksy did) saw real problems with finance and banking running riot and swallowing us in debt. Something which arguably Bitcoin presents a serious alternative too in the present world.

Hayek in the Denationalisation of Money argues that we should have a sort of free competition between currencies which again seems strongly consistent with what Bitcoin is.


So just out of interest, who would be your favourite economist, which is best for understanding alternative currencies like Bitcoin and why? Suggestions please...

[guybrushthreepwood]

Max Keiser lol.

[sehdal]

Well Keiser is certainly the best journalist/financial analyst around and the biggest Bitcoin supporter but I don't think he'd call himself an economist.

Iv'e seen Keiser refer to the debate within the Austrian School about Bitcoin and how some members of the Austrian School support Bitcoin while others don't. He obviously tells the one's that don't that they are wrong. T

My suspicion is most people who really believe in Bitcoin would say Von Mises, which is interesting but I'm interested if there are any other suggestions that are less familiar.

[psbakke]

Hi. I am new to the forum and like the participation that everyone gives.

In answer to the question, I like Friedrich Hayek who wrote, The Road To Serfdom. It is sad that someone who was so popular in the U.S. at the time he wrote the book is virtually ignored today and as a result, practically everything he said would happen with regard to state sponsored socialism is happening in the U.S. and is bringing the country down. I question if we can escape from it at all but with the introduction of cryptocurrencies, starting with Bitcoin, I think a community of informed individuals can possibly survive with their wealth intact. The only real black swan is something like a nuclear war with EMP radiation taking down the electronic infrastruction. That or the governments of the world colluding together to shutdown the internet in order to save their worthless fiat currencies. I only hope there is enough time for my family to get their money protected. We are on the verge of a major shift of either the freedom shift or another force shift which happens about every 100 years. The last one was precipitated in 1913 by the creation of the Federal Reserve and a couple of key Constitutional Amendments. Hopefully Bitcoin and other cryptocurrencies like it will be in the middle of causing a freedom shift instead.

Paul Bakke

[fastturtle]

I believe Paul Krugman is the best economist in the past 20 years. hahaha I'm just joking, Krugman has to be the world's worst economist! I don't have a favorite but if I had to choose one it would be Peter Schiff. I enjoy listening to Mike Maloney because he is a historian with great visual examples. I respect any economist that can look at past trends in economics and apply them to today. I have very little patience with Keynesian economists because it has been nothing more than a disaster that has no historical proof of working (dating back to Greek and Roman times).

[chaoticbrain]

I need to read more economics.

[prolom]

I studied economics in college back in Russia while it was still under communism. So I've heard of a guy named Karl Marx. I didn't get much of what he was writing about. Something about exploitation and how private property is bad for you. Babylon must fall kind of theory.

[edutBTC]

Maybe not Keiser however I think Bлaдимиp Ильич Лeнин had a good point about the economism plus he said :"The Capitalists will sell us the rope with which we will hang them"

[GAML]

Edward Castronova.  I think I have now read everything he has ever written.  His research and work in regards virtual economies is fantastic.

[Kenshin]

Max Keiser is the man!!! 

[hilariousandco]

Max Keiser is the man!!! 

I don't know what to think of Keiser, but at least he's getting BTC's name out there.

[Gentlemaniac]

Not sure I like him most, but I do like Robert Shiller.

He is one of the few saying the current housing market may be a bubble.

Least favorite would be Eugene Fama, for his naivity.

(and yes, ironically, these two economists share the 2013 Nobel price for economics)

[guybrushthreepwood]

I wasn't being serious about Keiser by the way 

[gambit1]

Paul Krugman is my favourite comedy economist.

[Lakor]

Satoshi

[guybrushthreepwood]

Satoshi

Suppose it's how you define economist.

[liquidator]

Adam Smith is my obvious choice the only one i really know of not my greatest topic

[prolom]

Maybe not Keiser however I think Bлaдимиp Ильич Лeнин had a good point about the economism plus he said :"The Capitalists will sell us the rope with which we will hang them"

Mr Ulyanov aka Lenin sure stocked up on that rope because bolsheviks killed not only the capitalists but a large percentage of the rest of the country with them, including most other Marxists. And then they had more rope for export.

[beetcoin]

kind of a catch 22.. any economist that i'd like wouldn't be about being provocative. and to become a well-known economist, you need to do that.

[prolom]

On a more serious note I haven't read on economics since college and I would be very interested in the contemporary state of anarchist economics. It seems to be a very interesting time for that.