The Free Market for Money with Peter St Onge - WBD716

Peter St Onge is an Economist at the Heritage Foundation and a
Fellow at the Mises Institute. In this interview, we discuss the
burden of excessive government control, corruption & the
erosion of trust in institutions, the influence of activists on
government decisions, & reducing the size of government.
Using examples from Argentina & Lebanon, we talk about the
resilience of normal people in the face of a collapsing state,
& the challenges of scaling anarchic systems.


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What Bitcoin Did makes films, which are published on YouTube
under the banner “Follow the Money”. Through the experiences of
everyday people, and through the lens of new kinds of currency
like Bitcoin, these films explore what money is, who controls it
— and how new forms of it could help create a better, more
equitable future for us all. So far, 3 films have been released,
covering Bitcoin’s legalisation in El Salvador, inflation in the
UK and Bitcoin mining in Texas.


There are currently 2 further films in post-production: a film
about the impact of triple-digit inflation on Argentinians, and a
film about the impact of the economic crisis on the Lebanese.
These films have had a profound effect on me, providing me with a
unique perspective on the role of government.


Making these films has spotlighted obvious negative issues
emanating from bloated & corrupt states being allowed to
thrive. But there are also unexpected positive experiences
showing normal people's capacity to show agency & develop
innovative methods of self-reliance in the face of a collapsing
state. I was eager to share my experiences with Peter St Onge,
who I knew could understand and contextualise my observations and
insights.


We delved into our philosophical beliefs on the size of
government and the potential of Bitcoin. Initially, I dismissed
libertarian ideas, but my experiences in these countries have
challenged this thinking. We discussed the difficulties and
potential risks of eliminating the state, acknowledging the
natural tendency for people to organise and create rules. We also
touched on the role of democracy and the potential problems that
arise when the political unit becomes too large.


In both countries, I observed the effects of severe economic
strain on different social classes. The poor are obviously
massively disadvantaged in these situations, and I was witness to
many heartbreaking stories. However, the incredibly inspiring
stories of resilience and organisation in the face of adversity
reinforced my belief in the potential of people when they are not
burdened by excessive government control.


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Show notes:
https://www.whatbitcoindid.com/podcast/the-free-market-for-money


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