Main points on Monarchy vs Democracy:1. Time preference2. Security of property3. War4. Democracy has perverse selection5. Democracy legitimates government6. Kings don't owe anybody anything7. Rise of civilizations under monarchyRelevant quote from Hoppe: "Traditional monarchies only resemble dictatorships superficially. Instead, dictatorships are a regular outgrowth of mass democracy. Lenin, Stalin, Hitler, and Mao were distinctly democratic rulers as compared to the former Emperors of Russia, Germany, Austria, and China. Indeed, Lenin, Stalin, Hitler, and Mao (and almost all of their smaller and lesser known successors) were outspoken in their hatred of everything monarchic and aristocratic. They knew that they owed their rise to democratic mass politics, and they employed democratic politics (elections, referenda, mass rallies, mass media propaganda, etc.) throughout their reign."Further Readings:Hoppe, Democracy: The God That FailedHoppe, Political Economy of Monarchy and DemocracyHoppe, The Myth of National DefenseErik von Kuehnelt-Leddihn, Monarchy and WarLeland Yeager, A Libertarian Case for Monarchy Enjoyed this episode? You can take part in podcast seminars, access Saifedean’s courses and read chapters of his forthcoming books by becoming a Saifedean.com member. Find out more here.THE BITCOIN STANDARD TOOLKIT/SPONSORSNYDIG - https://nydig.comCyphersafe - https://cyphersafe.io/ OKCoin - https://okcoin.com/Nodl - https://www.nodl.it/Coldcard - https://coldcardwallet.com/CoinBits App - https://coinbitsapp.com/