Economics, Energy, and Bitcoin

On this week’s Power Hour Alex Epstein interviews economist Dr. Saifedean Ammous about economics and energy. Dr. Ammous, in part due to his influence by The Moral Case for Fossil Fuels, is working on a new economics textbook that makes energy a central focus in analyzing the causes of prosperity. Dr. Ammous is best known for his popular book The Bitcoin Standard, a fascinating look at the economics of Bitcoin. Alex and Dr. Ammous discuss a wide range of topics, including: - How Ammous got interested in energy economics. - What Ammous learned studying the economics of biofuels. - Why it’s crucial to think of time as the most important resource. - How energy relates to time. - How economists tend to undervalue energy–and what Ammous is doing to address this. Additionally they discuss several foundational issues in economics, such as the nature of money, economic calculation, the nature of value, and opportunity cost. I hope you enjoy the wide-ranging discussion. As a bonus, on this episode Alex gives his first ever public explanation of “the private jet problem,” a central idea in The Moral Case for Fossil Fuels 2.0.