The Drivers of Prosperity Since 1750: Labor, Energy and Sound Money

What if the key to prosperity isn't natural resources, but human labor itself? In this podcast, we explore economist Saifedean Ammous's compelling argument from "The Bitcoin Standard" that human ingenuity, not scarce resources, drives economic growth—but only when amplified by two critical factors: abundant energy and sound money. Through historical data and charts spanning from the gold standard era to today's fiat currency system, we examine why living standards exploded after 1750 and why they may be at risk today. The evidence reveals a striking pattern: the 1971 end of the gold standard coincides precisely with the divergence of productivity and wages, suggesting that monetary policy profoundly affects whether workers benefit from their increased output. As we face mounting US debt and energy constraints, this analysis offers both a framework for understanding prosperity's foundations and a warning about the institutional prerequisites for continued human flourishing. Could Bitcoin restore the sound money necessary to unlock labor's full potential, leaving energy abundance as our only remaining constraint?Thank you very much to our sponsors:* Truflation: Learn about what prices are actually doing by going to https://truflation.com/marketplace/us-inflation-rate* Foundation: Protect your Bitcoin using the latest off-line technology with easy-to-use Passport. Their next product, Passport Prime will protect all passwords off-line with even-better technology. https://foundation.xyz/* River Financial: If not cold storage for your Bitcoin, I’d highly recommend River for buying and holding- River is engineered to protect your Bitcoin over the long run. Use this link for discounts: https://river.com/signup?r=T7GGAF7G This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit robertdewey3.substack.com/subscribe