Imagine you are a store owner who just sold $100 worth of items from your store, only to find out that the currency you received had devalued 25% overnight? This scenario rightfully scares people and leaves them reluctant to exchange cryptocurrency for goods or services. To address this topic, Josh and I sat down with Bob Murphy, an austrian economist and senior fellow at the Mises Institute with a Phd in economics from NYU. We discuss the historical significance of gold, if it can be tokenized, and how that would compare to other stable coins. What are the risks? What are the benefits? Listen and learn!
About the Guests:
Robert Murphy is a research assistant professor at the Free Market Institute.
Dr. Murphy earned his B.A. in economics from Hillsdale College and his Ph.D. in economics from New York University. Prior to joining Texas Tech University, he was a visiting assistant professor at Hillsdale College, a visiting scholar at New York University, a research analyst at Laffer Associates, and a senior fellow with the Pacific Research Institute.
He is currently Senior Economist at the Institute for Energy Research, where he writes a frequent column on the economics of climate change. Dr. Murphy also serves as a senior fellow with the Fraser Institute, a senior fellow with the Mises Institute, and a research fellow at the Independent Institute.
He has authored numerous scholarly articles and energy policy studies, over 100 popular publications for lay audiences, and multiple books. His most recent book is Choice: Cooperation, Enterprise, and Human Action (Independent Institute, 2015).
He and best-selling author Tom Woods also host a weekly podcast, Contra Krugman, in which they critique the New York Times column of economist Paul Krugman from alternative economic perspectives.
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