Does money need some alternative utility? Is there an example of virtual money that could be hundreds of years old? Today we read about one of the most interesting analogies to the nature and value of Bitcoin in the piece, "The Island of Stone Money" by Milton Friedman. Made available by the Hoover institute and published in 1991.
Don't forget to check out the huge collection available at the Hoover Institute, including numerous works by Milton Friedman.
https://www.hoover.org/publications/economics-working-papers
https://miltonfriedman.hoover.org/friedman_images/Collections/2016c21/Stanford_02_01_1991.pdf
Other episodes and content mentioned in the show:
Friedman's "Free to Choose" Series - https://www.youtube.com/watch?v=D3N2sNnGwa4
The Triple-Entry Revolution of Bitcoin - https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_255---Bitcoin-An-Accounting-Revolution-e473tj
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