
The Emergence Of Bitcoin Through The Lens Of Austrian Economics
□ Feb 09 2021 □
Published
at Bitcoin Magazine
under tags
austrian economics
philosophy
While many Austrian economists disagree on various topics regarding the origin of money, the most notable and agreed-upon theory on the origin of money is Carl Menger’s theory of salability. Bitcoin arose in a world that was long past the barter phase. Since bitcoin was never used for barter, it did not face the problems that barter economies had, namely the problem of...