Tenth lecture of Principles of Economics explores money as the most salable good, how it emerges from trade, solves the coincidence-of-wants problem, enables calculation and specialization, preserves value across time, and why hardness matters more than quantity.

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Trump’s Three-Card-Monte Takes on the Chess Grandmasters

This is a full reading of Saifedean's article analyzing one month of the Iran War and its likely political and economic consequences.

https://x.com/saifedean/status/2038250120890769859

https://saifedean.substack.com/p/escalating-from-suez-to-waterloo

Ninth lecture of Principles of Economics explores trade as voluntary exchange that benefits all parties, explaining subjective valuation, absolute and comparative advantage, and how specialization and the division of labor raise productivity, cooperation, and civilization.

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Eighth lecture of Principles of Economics examines energy and power as essential drivers of production, showing how abundant energy, especially hydrocarbons, raises productivity, expands trade and living standards, and helps explain prosperity, freedom, and the decline of slavery.

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Seventh lecture of Principles of Economics explores technology as non-scarce knowledge that raises productivity and drives long-term growth, explaining why innovation creates new work instead of destroying it, and examining the economic arguments surrounding intellectual property.

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Sixth lecture of Principles of Economics explores capital as saved resources that lengthen production to raise productivity, showing how time preference governs saving and interest, why capital is costly and fragile (depreciation, risk, destruction), and how capital accumulation drives higher living standards.

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Fifth lecture of Principles of Economics explains property as the only workable solution to the problem of scarcity, how ownership prevents conflict, the logic of self-ownership, and how secure property rights enable saving, capital formation, peaceful cooperation & civilizational advance.

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Fourth lecture of Principles of Economics explores labor as the sacrifice of leisure for future gain, explaining disutility, production and productivity, how wages reflect marginal output, why work never disappears, and how voluntary labor and capital raise the value of human time.

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