Sublime

From examining such human choices in market situations, Carl Menger, the father of the Austrian school of economics and founder of marginal analysis in economics, came up with an understanding of the key property that leads to a good being adopted freely as money on the market, and that is salability—the ease with which a good can be sold on the ma

money is universal credit and that its supply and value in a free market is a reflection of the reality of how much valuable work has been done and not redeemed.

Money is an information system that records and updates who has done work that is valued by others, such that credit can be universalized and socially scaled.

Rothbard’s monetary view has never been put in effect, but actually has an opportunity to prove its viability with bitcoin. Bitcoin with its absolutely limited supply defines the Rothbardian system.

If, as in a social network, we knew with whom we were dealing in economic exchange, we could perhaps base this communication in the simpler medium of trust than in money. But since we mostly do not, the specific social scalability conferred by money allows for what Szabo calls “trust minimization,” or, “reducing the vulnerability of participants to