George gilder bitcoin wikipedia

With a near zero interest rate policy, the Fed falsely zeroes out the cost of time. This deception retards economic growth. Rather than creating new assets, low cost money borrowed from tomorrow bids up existing assets today. It distorts the time value of money. The Fed policy confuses savers and investors and contracts the horizons of investment, that have shrunk to milliseconds in some trading strategies.

The major Wall Street investment banks are too big to fail and too dependent on government to succeed. They now make profits chiefly through what they call proprietary trading, with a time horizon measured in minutes and weeks. The new Wall Street harvests gains through cheap borrowing from the Fed and accelerated cyber-buying and shorting of currencies and securities.

In the s, there were 20 IPOs for every merger and acquisition. The last five years have seen a 30 percent rise in the financial share of GDP, with as much as a 40 percent share of profits going to the financial sector. If government guarantees an investment, it is not economic growth. The Securities and Exchange Commission favors boards that know nothing about the companies they rule and have no stake in them.

The outsized role of venture capital in job creation is the exception, start-ups now produce 21 percent of GDP, 65 percent of market cap, and probably under 17 percent of all jobs.

Venture capital represents just two-tenths of one percent of total capital, which is being diverted massively into nonproductive uses.

From to , big banks feasted on zero interest rate money from the Fed, and bought trillions of dollars of government bonds. From the Fed, they received over one trillion dollars of largesse.

According to the official consumer price index, or CPI, median family income has dropped roughly 5 percent since But the Walmart CPI shows median family income has dropped by an astonishing 17 percent. Time as money is an insight behind the value of gold and the creation of bitcoin as a form of digital gold.

But the theory is incomplete without an understanding of velocity. The attempt to ground money in a basket of commodities will fail. Baskets of goods are always vulnerable to technology shocks, and they will not prevent political manipulation of money. For the first time since the inception of our information society, we are moving toward what might be termed a new system of the world.

Bankers, politicians, academics and bureaucrats must stop treating money as a manipulable tool of policy. Gold is gaining new supporters every year.

Gold still far exceeds bitcoin and other new currency projects. Wikipedia consumer price index United States Department of Labor: Some comments on your theories. The advantage of gold is its supply, and the growth of its supply, is limited, presumably. So the supply cannot be manipulated by government intervention — printing more money, etc. Bitcoin seeks to do the same thing by limiting the supply through its own algorithmic form of mining. But we can hypothesize the same phenomenon with gold.

We can create diamonds artificially but that is simply changing the same element, carbon, from one state to another. Artificially creating an element like gold from a different element is more difficult, and has only been done so far in minute quantities. There is nothing preventing someone from eventually creating large amounts of gold inexpensively.

Thank you, your view means a lot to me. I agree on the hackability of chemistry. You and Isaac Newton together again in one sentence. I am betting, not so much on bitcoin, as on the huge proliferating learning curve it has unleashed in heterarchical security algorithms. I would be honored by any use you make of the paper. George Franklin Gilder born November 29, is an American investor, writer, economist, techno-utopian advocate, and co-founder of the Discovery Institute.

His international bestseller Wealth and Poverty advanced a practical and moral case for supply-side economics and capitalism during the early months of the Reagan administration and made him Ronald Reagan 's most quoted living author.

In the s, Gilder established himself as a critic of feminism and government welfare policies, arguing that they eroded the "sexual constitution" that civilized and socialized men in the roles of fathers and providers. In the s, he became an enthusiastic evangelist of technology and the Internet by several books and his newsletter, the Gilder Technology Report.

He is a great-grandson of designer Louis Comfort Tiffany. He spent most of his childhood with his mother, Anne Spring Alsop , and his stepfather, Gilder Palmer, on a dairy farm in Tyringham, Massachusetts.

David Rockefeller , a college roommate of his father, was deeply involved with his upbringing. Gilder served in the US Marine Corps. In the s Gilder served as a speechwriter for several prominent officials and candidates, including Nelson Rockefeller , George W.

Romney , and Richard Nixon. He worked as a spokesman for the liberal Republican Senator Charles Mathias , as antiwar protesters surrounded the capital; some eventually scared Gilder out of his apartment. Gilder moved to Harvard Square the following year, and he became a writer who modeled himself after Joan Didion.

He later recanted this attack: At least the 'right-wing extremists,' as I confidently called them, were right on almost every major policy issue from welfare to Vietnam to Keynesian economics and defense — while I, in my Neo-Conservative sophistication, was nearly always wrong.

Supply-side economics was formulated in the mids by Jude Wanniski and Robert L. Bartley at the Wall Street Journal as a counterweight to the reigning "demand-side" Keynesian economics. At the center of the concept was the Laffer Curve , the idea that high tax rates reduce government revenue. Its opponents often refer to it as " trickle-down economics.

Inspired by Wanniski and by the works of free-market economists like Milton Friedman and Friedrich Hayek and novelist Ayn Rand , [6] Gilder wrote a book extending the ideas of his Visible Man into the realm of economics, to balance his theory of poverty with a theory of wealth.

Gilder also contributed to the development of supply-side economics when he served as Chairman of the Lehrman Institute's Economic Roundtable, as Program Director for the Manhattan Institute, and as a frequent contributor to Laffer's economic reports and the editorial page of The Wall Street Journal. His other books include Life After Television , a book that predicted microchip "telecomputers" connected by fiberoptic cable would make broadcast-model television obsolete. The book was also notable for being published by the Federal Express company and featuring full-page advertisements for that company on every fifth page.

Gilder is an active investor in private companies and serves as the chairmen of the advisory board in Israel-based ASOCS that he discovered during his research for Israel Test. Woman creates the baby, as a linchpin of humanity, whereas Man creates as metaphor—the machine which protects the family from "Nature". This has been true throughout human history and always will be true. The denial of it is perverse and destructive because men do have an absolutely central role in society that is commensurate with, yet different from, the familial role of women.

Gilder also describes women as "a very physiological consciousness," and asserts that women, because of inborn, biologically determined differences from men, must give up "choice" or the family will be destroyed.

Referring to women, Gilder asserted in Her sexuality determines her long term goals. As a very physiological consciousness, she knows she can bear and nurture children. She has a central role in the very perpetuation of the species The Women's Movement tragically reduces female sexuality to the terms of male sexuality.

When this happens, she reduces herself to the male level of recreational sex. Paradoxically, when that happens the woman loses all her power over men and the reverence and respect toward the procreative potential of woman is lost. And that really destroys the family. But if the power of "choice" is given up, the woman actually ascends to a higher level of sexuality and her body attains an almost mystical power over men.

He was promptly fired as editor. Gilder enjoyed the controversy, appearing on Firing Line to defend himself. He discovered that he had found "a way to arouse the passionate interest of women Gilder moved to New Orleans and worked in the mornings for Ben Toledano , Republican candidate for the United States Senate in and the party's nominee for mayor of New Orleans in Also, he wrote Sexual Suicide , revised and reissued as Men and Marriage He argued that the welfare state and feminism broke the "sexual constitution" that had weaned men off their predatory instinct for sex, war, and the hunt, and it had subordinated them to women as fathers and providers.

He also stated that divorce "does spread poverty, and bitterness, and feminism, and other problems. Gilder also wrote Visible Man: A True Story of Post-Racist America , reissued in , which The New York Times described in as "the account of a talented young black spoiled by the too-ready indolence of America's welfare system. Gilder has asserted that the culture of Native Americans was "corrupt and unsuccessful" and so Native American culture "failed. It failed because it was a corrupt and unsuccessful culture.

These tribal cultures they [multiculturalists] are trying to import from Africa are tragic failures, too. To uphold these destructive cultures that have been virtual social suicide for the people who live in them is a terrible perversion. Unless a culture is aspiring toward the good, the true, and the beautiful, and wants the good and the true, really worships God, it readily worships Satan.

If we turn away from God, our culture becomes dominated by "Real Crime Stories" and rap music and other spew When the culture becomes corrupt, then the businesses that serve the culture also become corrupt Secular culture is in general corrupt, and degraded, and depraved.