This is opinion editor Mickey Koss, a West Point graduate with a degree in economics. He spent four years in the infantry before transferring to the Finance Corps.
Subjective values are no way to apply objective measures and open society to a litany of anti-freedom and anti-individual action for the greater good.
The bottom line is that individuals who do not value bitcoin have determined that their lack of subjective value justifies, among other things, censoring energy use for the sake of the public good. I don’t think they understand the precedent that sets it.
- It’s not hot enough, so we turn off your air conditioner.
- Watching The Kardashians is a waste of power, so we’ll reduce the amount of energy entering your home.
- It’s still not cold enough, so we turn off the gas to your furnace.
- Your car is too big to drive alone, so we will limit your ability to buy fuel.
- Bitcoin is a waste of energy so we should ban mining or change the code.
Each statement is essentially the same. Someone else applies their subjective values. Although the examples may seem silly at first, I never thought that a farmer would have to protest to continue farming until it happened in the Netherlands.
Such things are always justified for the greater good of society.
“Thus, the individual must finally understand that his ego is of no importance compared to the existence of the nation, that the individual’s position is determined only by the interests of the nation as a whole.” – Adolf Hitler
There are no groups. No group effects. There are only individuals. As we work together to create a society, society cannot be affected, only individuals.
Keynesian Values Revealed
I’ll never forget the math used to justify the minimum wage increase in my graduate school macroeconomics class. Given the estimated supply and demand curves, we had to calculate the increase in unemployment versus the wage increase for those who remained employed after the minimum wage increase.
To get an A+, your savings had to approve the decision to raise the minimum wage. The way the equations were written dictated the result from the start: Wage gains always exceeded unemployment losses.
When applied to a real-life scenario, it is not difficult to imagine this being true for all policy decisions. Evaluating equations to do some math to get more estimates. We got the result we wanted and our math supports it. Science, baby.
What about Individual?
I did all the math right, but my recommendation is where I lose points:
“I do not recommend raising the minimum wage because it leads to an increase in unemployment. Firing people is immoral.”
The professor, who wrote his thesis on the elasticity of demand for staple goods in sub-Saharan Africa – estimated using estimates with little real-world value – dismissed the concern by using unemployment insurance as justification. And it was at the No. 1 School of Public Policy in the United States at the time.
“Fuck the plebs. Let them depend on the government.”
Any action against an individual can be justified by the greater good of society. There is no limiting principle and this slope is steep and slippery.
Good Riddance Keynes
I think the intellectual resistance to bitcoin is because they know, at least subconsciously, that it takes away their power to regulate society from their ivory towers.
It’s okay for a thousand people to lose their jobs as long as they remain faceless statistics in pseudo-scientific math equations.
What about a single mother, a single father, a family of five, a first-generation American, struggling every day to live a life of meaning and dignity, to show her children what it means to earn and provide? As I made these calculations, I couldn’t help but notice the broken faces of the broken people, that they had failed that day, that the scale of their existence in this broken world of fiat had just fallen out of favor, that their future was now uncertain.
If I have to lie to myself to get an A on an economics paper, then I’m fine with telling the truth.
Bitcoin and Marionette
Bitcoin famous Dr. I could listen to Jordan Peterson for hours. To be honest, I have already done it and will continue to do it. His linguistic talent is beautifully highlighted when analyzing the children’s story “Buratino”.
Pinocchio’s journey leads him to accept responsibility as he enters the belly of the beast to save his father. Self-realization leads to identity. Daily responsibility is the action of the daily hero. Without responsibility, we have nothing. However, there can never be accountability at the macro and policy level of society without any shortage.
The journey to the Bitcoin standard leads to radical self-responsibility and cuts the control ties of so-called experts who want to keep you in check. We will no longer be marionettes, puppets dancing through life at the end of a fiat string.
No longer will we be parts, statistics, and aggregates of extravagant and purposefully convoluted equations used to justify sacrifice for the common good. This will no longer be possible in the bitcoin standard. With scarcity re-entering the market, blanket dictates will no longer be financially viable.
There is no society without individuals. There is no public impact. Outside, only individuals decide. Sacrificing individuals is immoral and always will be. If you want a better society, responsibility is probably a good place to start. Bitcoin fixes that.
This is a guest post by Mickey Koss. The opinions expressed are entirely their own and those of BTC Inc. or do not reflect the views of Bitcoin Magazine.