Boby Murphy joins me for a deep conversation about the principles of economics.Be sure to check out NYDIG, one of the most important companies in Bitcoin: https://nydig.com/GUESTBob’s twitter: https://twitter.com/BobMurphyEconBob’s show: https://www.bobmurphyshow.com/Bob’s book “Choice”: https://www.amazon.com/Choice-Cooperation-Enterprise-Human-Action/dp/1598132180 CHANNELPodcast Website: https://whatismoneypodcast.com/Apple Podcast: https://podcasts.apple.com/us/podcast/the-what-is-money-show/id1541404400Spotify: https://open.spotify.com/show/25LPvm8EewBGyfQQ1abIsE?si=wgVuY16XR0io4NLNo0A11A&nd=1RSS Feed: https://feeds.simplecast.com/MLdpYXYITranscript:EPISODE00:00:00 “What is Money?” Intro00:00:05 NYDIG00:01:22 “Choice”: A Complement to “Human Action”00:06:55 How Economics differs from Natural Sciences00:13:14 Economics vs. Economic History00:16:04 Empiricism vs. Rationalism00:24:19 Praxeology: The Science of Human Action00:35:30 Teleology: The Study of Purpose00:41:07 Actor Preferences and Value00:48:22 The Inequality of Exchange00:53:48 The ‘Water and Diamonds Paradox’01:02:06 “On the Origin of Money”01:09:42 Apriori, Aposteriori, Apodictic01:17:51 Ideologies and Public Opinion01:23:06 Dispelling False Doctrines01:30:44 Political Polarization and Fiat Currency01:34:19 “The End of Western Civilization”01:36:39 Bitcoin and the Restoration of Civilization01:43:47 Economics that Makes SenseSOCIALBreedlove Twitter: https://twitter.com/Breedlove22WiM? Twitter: https://twitter.com/WhatisMoneyShowLinkedIn: https://www.linkedin.com/in/breedlove22/Instagram: https://www.instagram.com/breedlove_22/TikTok: https://www.tiktok.com/@breedlove22?lang=enAll My Current Work: https://linktr.ee/breedlove22​WRITTEN WORKMedium: https://breedlove22.medium.com/Substack: https://breedlove22.substack.com/WAYS TO CONTRIBUTEBitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7Sats via Strike: https://strike.me/breedlove22Sats via Tippin.me: https://tippin.me/@Breedlove22Dollars via Paypal: https://www.paypal.com/paypalme/RBreedloveDollars via Venmo: https://venmo.com/code?user_id=1784359925317632528The "What is Money?" Show Patreon Page: https://www.patreon.com/user?u=32843101&fan_landing=trueBUSINESSES I LIKE:Automatic Recurring Bitcoin Buying: https://www.swanbitcoin.com/breedlove/Use Discount Code "Breedlove" for Bitcoin Custody w/ Casa: https://keys.casa/#plansBuy Bitcoin in a Retirement Account w/ DAIM: https://daimio.typeform.com/to/oU5OHXMZWorldclass Bitcoin Financial Services: https://nydig.com/