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It only needs to be valued by one person to develop an exchange rate.

Personally, I think the Regression Theorem (applied to money) is a pretty weak theory.

169 sats \ 2 replies \ @kepford 1h

Indeed. One person. I wish Mises, and Hayek at least were taught in school. I exposed my sons to them because we did homeschool them for part of their education.

On that topic. People often fail to recognize how much influence they have on their kids. Even if you can't afford to homeschool you can augment their education. It just takes effort and time. We like to make things all or nothing but moving the needle even a little can have a big impact.

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Totally. A phrase I like to use is just "what side of the hill are you on" when people are struggling to decide between two extremes. It's meant to show them that you don't need to go to the extreme, you just need to figure out what direction to start moving.

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0 sats \ 0 replies \ @kepford 1h

Indeed. Staying put is often the best way to die. Move and re-evaluate. Maybe you moved the wrong way but staying put is seldom the answer. I think many are far to fearful.

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