The Bitcoin Standard: The Decentralized Alternative to Central Banking

by Saifedean Ammous

a world in which almost all firms are financed through central bank credit expansion, there can be no simple way of discerning which industries are growing because of the injection of bezzle steroids, but there are some telltale symptoms. Any industry in which people complain about their asshole boss is likely part of the bezzle, because bosses can only really afford to be assholes in the economic fake reality of the bezzle. In a productive firm offering valuable service to society, success depends on pleasing customers. Workers are rewarded for how well they do that essential task, and bosses who mistreat their workers will either lose the workers to competitors or destroy their business quickly. In an unproductive firm that does not serve society and relies on bureaucratic largesse for its survival, there is no meaningful standard by which to reward or punish workers. The