S4: E58 – The Immaculate Conception: Bitcoin vs Fiat Standard | Dr. Saifedean Ammous

Dr. Peterson, I have encouraged you to dialogue with the Austrians since encountering “Maps of Meaning” in 2015. The sympathies in thought between you and Mises simply must be explored. I believe your psychological theory has arrived at the “axiom of action” independent of Mises and the Austrians. I have read your ontological assertion that “reality is a forum for action” and your phenomenological ontological approach to reality that rejects objective materialism as incomplete or partial, as an ideological tool and not a religion or not a fully formed one at least. This is in line with the non-materialistic ontological approach to economics of Mises in his “Theory and History” which is the metaphysical justification for his “Human Action” which spells out the idiosyncratic a priori approach to economics, praxeology, of the Austrians who deduce from the axiom of action to define economic theory. This is markedly different than the empirical approach of the materialist and empirical schools who attempt to observe model behavior and predict policy for optimal outcomes. I find your neuropsychological descriptions of a hierarchy of valence culminating in action which produces affect eerily similar to Mises ordinal value scales that culminate in action and produce profit (monetary and psychic, or not measured in money terms). Your psychology culminates in action, which is the beginning of Austrian economics. I see a consistent body of knowledge from metaphysics to macro economics by uniting these two fields which imho share axioms and paradigm. This must be explored further and more rigorously. Please continue to solicit dialogue with the Austrians. Unfortunately I have not heard or read a conversation that hits the mains points and sympathies to my satisfaction. Please keep talking!
Concerning BTC, Mises and the Austrians conclude that sound or hard money is preferred as value is subjective and prediction of subjective value is a fools errand (individualism). The only evidence of value is action. Action establishes a price, which carries information about said values into the economy and which allows others to make judgements with the best available information. Anything that perverts the information about subjective values contained in prices diminishes one’s ability to judge and optimize profit or affect. This does not exclude the limbic motives but captures them in the fact of action rather than trying the impossible of capturing this in a rational theory. BTC offers a money that resists corruption and provides prices that reflect subjective value rather than the values of those who control the money supply.
Please keep dialoguing with the Austrians. The synchronicity of your theory aligning with a resurgence of Austrian thinking (due to the 2000 .com and 2008 property bubbles and Ron Paul) and the invention of blockchain in BTC is the spirit of our age. We stand at the precipice of change that will alter ALL HUMAN INSTITUTIONS. These structures arise from the costs of transacting, costs that have now been redefined due to BTC and blockchain. Trust is central to social cooperation, BTC is radically decentralized trust.