Joining me today – and making a second appearance on the podcast – is the Chief Operating Officer of Stellenbosch University, Professor Stan du Plessis. Prof du Plessis attained his Master of Philosophy in Economics from the University of Cambridge and his PhD in Economics from Stellenbosch University.
He joins me today to explore the concepts of sound and unsound money. We explore the evolution of money and the societal changes that have accompanied it. We talk about how technological advancements have changed the way we think about money and have caused the usurpation of what Saifedean Ammous – the author of The Bitcoin Standard – referred to as “primitive moneys”.
Furthermore, we explore some of the contributions made by some of the biggest and most influential names in economics, which include but are not limited to John Maynard Keynes, Milton Friedman and Friedrich Hayek. In discussing inflationism, we zoom in on Hayek’s “A tiger by the tale” allegory as well as Keynes’ “The economic consequences of the peace” about which Prof du Plessis says “is one of those cases where an economist really nailed it. He really got it exactly right”.
Moreover, we talk about the need for – and rationale of – economic decentralisation, as laid out by Hayek in “The use of knowledge in society” and then segue into a brief discussion about cryptocurrencies and the opportunities – as well as the problems – it introduces.