Leo Fernevak @Leo Fernevak - 1y
I would add that a free market is free agency and property rights for all. Following the ideas of John Locke, every individual owns themselves, their mind, body and the fruits of their labor. The process of a free market is voluntarism and competition, without the initiation of the use of force. Following from this, central banking and moneyprinting is a corruption of capitalism, an inversion of a free market. Under a free market there is competition in money and individuals are free to choose, without pressure or coercion, the money that serves them best. Over time, hard, neutral money that can't be printed will be favored in the market due to the inflation of the printable monopoly money. The demand for worthless paper will trend toward zero. This is not an instant process under a system of exploitative central planning. Because in a central planning system there is always deep uncertainty regarding what kind of new, oppressive regulations might be waiting around the corner. This uncertainty of how the government's use of force is going to impact markets in the future will naturally cause irrationality and misallocation of capital. Bitcoin solves the problem of moneyprinting and central banks, over time, by outcompeting them and making their monopoly money irrelevant. As moneyprinting becomes less and less profitable for the exploitative class, wars will no longer have limitless funding and citizens will reject paying for extensive wars via taxation. When the costs of war increases and it can no longer be used as a profitable machinery of governmental money laundering, the case for warfare becomes a difficult narrative to manage.
