Microeconomics And Fiat: The Bear Case For The U.S. Dollar



Written September 15, 2021

The goal of this article is to unite and create a coherent argument around the basic microeconomic idea of price equals marginal cost (P=MC), of fiat money as a product, and how bitcoin relates to these two. I must warn all readers that this is just a frame of thought, or, as Steve Jobs would have put it “connecting the dots.” It is by no means a finished concept, and the community will have to help evolve and polish this idea, the same way I have taken this idea from others and, hopefully, improved upon it.



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