Boring basics often come first. Before you can truly understand or criticize Bitcoin, you need to grasp the basics of Keynesian and Austrian economics. This video breaks down these essential concepts, using practical examples to explain how these economic models work. While most examples focus on Australia, they apply broadly to other developed economies like the USA, Canada, the UK, New Zealand, and others that operate under similar economic systems. By the end of this video, you’ll be equipped to critique Bitcoin or make informed decisions about investing in it.
Appreciate you all for watching. You can say hello or ask me a question in the comments section below, on the gram @danielpekic or on X @vuklobo
Time Chapters
0:00 What do rich people in finance know that normal people don’t know?
1:40 Before you can understand bitcoin, you need to understand why it was invented
2:49 Definition: macroeconomics and microeconomics
4:07 Practical example: macroeconomics and microeconomics in Australia
4:59 Formal definition: Keynesian Economics
5:48 Normie definition: Keynesian economics
6:53 Practical example: Keynesian economics at work in Australia
10:03 Formal definition: Austrian economics
11:03 Normie definition: Austrian economics
13:25 Practical example: if Austrian economics was applied in Australia
15:54 Useful analogy: the water diamond paradox
18:38 Keynesian approach to the water diamond paradox
22:11 Austrian approach to the water diamond paradox
26:36 The Austrian approach is more logical
28:52 The gold standard. Did it work?
33:28 The reason bitcoin was invented
36:38 Bitcoin is aligned with Austrian economic theory
41:41 The reason I make these videos
This video is for educational and informational purposes only and should not be considered financial advice. Always do your own research or consult with a qualified financial advisor before making any investment decisions.
