Technology changes how we arrange our resources—it does not abolish scarcity, value, or entrepreneurship. The principles of human action remain fixed. AI will disrupt occupations, but it cannot overturn the immutable laws of economics.

Fountain

Bitcoin Audible • Read_903 - Vibe Capital Accumulating • Listen on Fountain

"Technology is always and everywhere a tool, not an autonomous agent. It requires humans to operate, which they will do in order to satisfy human d...

View quoted note →

Aggression dissolves trust; respect multiplies possibilities. By recognizing each person’s right to their own property, we create a space where everyone can trade, build, and prosper.

It's the most wonderful time of the year! View quoted note →

@Adam Back

Prosperity emerges not from central plans, but from free individuals meeting one another’s needs in ceaseless exchange.

Everybody, try laughing. Then whatever scares you will go away!

The idea that humankind can shape the world according to wish is what I call the fatal conceit. — Friedrich Hayek

Crossing the event horizon of reason.

Bitcoin exemplifies spontaneous order. View quoted note →

No one saves us but ourselves. No one can and no one may. We ourselves must walk the path.

When the state pours subsidies into favored firms or industries, it does not “stimulate” the economy—it falsifies it. The price system, which in a free market transmits the real valuations of millions of consumers, is bent and twisted to serve political ends. Entrepreneurs, no longer guided by authentic profit-and-loss signals, chase after government favors instead of consumer demand. Capital is squandered, labor misallocated, and production redirected into channels that would never have survived on voluntary support. What emerges is not growth but waste, not coordination but chaos. Intervention severs the connection between what people want and what is produced, replacing the discipline of the market with the arbitrary dictates of the state.

While I value competition, I won’t support a lesser product simply for the sake of having an alternative.

Liberty not only means that the individual has both the opportunity and the burden of choice; it also means that he must bear the consequences of his actions. — Friedrich Hayek