…o outputs. In this long essay, I cite four books that provide insights into the intangible economy. Instead of trying to imitate physics by looking for insights in equations, these economists are trying to imitate botanists or biologists or anthropologists by starting with what they find in the real world, figuring out what functions are served by observed behavior, and seeking out commonalities and differences. I call this approach “classification systems.”
I’ve got to be honest here, the recent FUD surrounding China’s “banning Bitcoin” (or more accurately, banning BTC exchanges) has been driving me crazy. It drives me crazy mostly because a scarce commodity is by definition a valuable one, and yet people are still selling like there’s no tomorrow. I’m here to tell you there is a tomorrow, and you shouldn’t be selling.