#004 - Allen Farrington - Bitcoin Fixes Capitalism
The Peter McCormack Show
Peter McCormack
4.7 • 2.8K Ratings
🗓️ 20 September 2024
⏱️ 146 minutes
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Summary
Allen Farrington is a writer and investor. He co-wrote Bitcoin Is Venice and he's a co-founder of Axiom, a Bitcoin-focused venture firm.
In this episode, we discuss the distortions caused by fiat money, the consequences of misallocated capital, and the philosophical underpinnings of a Bitcoin standard. We get into how these issues impact both individuals and economies, dissect the flaws of modern capitalism, and discuss how Bitcoin offers a path toward financial sovereignty and a more equitable economic future, as Allen provides a compelling case for why the current system is unsustainable and what can be done to change it.
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Transcript
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| 0:00.0 | The problem with what's happened in the UK is deregulation without concern for how that is likely to, or was then likely to and clearly has affected our, I guess, industrial structure, if you like, such that where it has led to is basically a combination of deindustrialization in terms of real material goods, complete |
| 0:26.1 | dominance of finance, in particular, housing, right? |
| 0:31.2 | Housing is monetized. |
| 0:32.5 | Median home price versus median wages, right? |
| 0:34.9 | Up and up and up forever. |
| 0:36.4 | To the point where it's now just like a trope, |
| 0:38.2 | it's like something that people basically accept. |
| 0:40.4 | I mean, I think they should be angrier about it. |
| 0:42.5 | No young person can afford a home. |
| 0:51.0 | Mr. Onguptuous is brought to you by our lead sponsor |
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| 1:29.0 | which is irren.com. Alan, how you doing? Very well. How are you? Good, man. Good to see you. |
| 1:36.0 | Mr. obnoxious. Yes. Love the new place, by the way. |
... |
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