I have not read it yet but the introduction is classic Saifedean brilliance-
'The invention of bitcoin has kindled interest in monetary history while offering people a historically unparalleled opportunity to experience first-hand the transformative potential of upgrading
monetary technology. In 2018, I published The Bitcoin Standard, a book that focused on monetary history and monetary economics, explaining the problem of money over millennia in order to illustrate bitcoin’s true potential and historical significance. In 2021, I published The Fiat Standard, which also focused on monetary history and economics to explain the functioning of fiat money and its far-reaching implications. In 2023, I published Principles of Economics, a book that explained the economics of human action and detailed how civilization emerges out of the cooperation of individuals. All three books offered readers a departure from the usual approach of modern economics books, in that they challenged the inevitability and desirability of
government-controlled money and illustrated its many devastating impacts to individuals and society. A central theme through all three books is that human civilizational progress is inextricably linked with the hardness of our money: the harder the money is to make, the less its supply will increase over
time, the better it will hold its value, and the more it will allow its holder to provide for the future more effectively, decreasing the uncertainty surrounding the future, and causing us to discount the future less. In other words, hard money makes us more future-oriented, lowering our time preference, which
is what initiates the process of civilization. As we increasingly value the future more, we defer immediate gratification in favor of long-term rewards. We save our resources for the future, and invest them to increase our productivity. We control our base instincts and passions and subdue them to our reason, which
calculates what is in our long-term interest. We cooperate and resolve differences peacefully because we are able to appreciate that the long-term fruits of peaceful cooperation far outweigh the short-term benefits of aggression.
We engage in trade, and build a highly sophisticated division of labor. If practiced over generations, this process of civilization manifests as a continuous increase in the material well-being of a society, with each generation living better than the previous generation.
The obverse is also true, unfortunately. The easier money is to produce, the more its supply increases and its value declines over time, the less it will allow us to provide for our future selves, increasing the uncertainty surrounding the future, and causing us to discount the future more. In other words, easy
money makes us more present-oriented, raising our time preference, which is what destroys the process of civilization. As we discount the future more, we consume our resources with little regard for the future. Saving and capital investment decline.
We are more likely to act to satisfy our present urges at the expense of our future well-being, since it matters increasingly less. We are less likely to cooperate and resolve differences peacefully, so our division of
labor is compromised and with it our productivity. Much of the history of the past century has reflected this civilizational decline. The collapse of society witnessed under hyperinflation is just a faster and more noticeable version of the same process slow fiat inflation brings about.
A contentious thesis for many, yet one that has found support among a growing worldwide readership with more than a million copies sold across 38 languages. I believe much of the books’ success is due to their ability to explain to readers many of the phenomena they experience as they use different forms of money. The more I wrote and spoke about the impacts of money on time preference, the more stories I would hear from readers and listeners about their own countries’ experiences with inflation and hyperinflation through the century of fiat money. Everywhere has countless stories to tell of the destruction of money bringing about the destruction of economic security and the destruction of civilization.'
You can download the first four chapters free from https://saifedean.com/tgs and read them and decide whether or not you want to buy/read the whole book.
Ammous is a great writer and thought provoker who I owe gratitude for showing me the true nature of Bitcoin and the difference between Bitcoin and all the other DINO shitcoins.
If you can, support this author who in great spirit encourages those who cannot afford his works to pirate them!