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How Bitcoin Abolishes Democracy – Bitcoin Magazine: Bitcoin News, Articles, Charts, and Guides

19 Mins read


“…the proponents of government intervention are trapped in a fatal contradiction: they assume that individuals are not competent to run their own affairs or to hire experts to advise them. And yet they also assume that these same individuals are equipped to vote for these same experts at the ballot box. We have seen that, on the contrary, while most people have a direct idea and a direct test of their own personal interests on the market, they cannot understand the complex chains of praxeological and philosophical reasoning necessary for a choice of rulers or political policies. Yet this political sphere of open demagogy is precisely the only one where the mass of individuals are deemed to be competent!”

–Murray N. Rothbard, “Man, Economy, And State With Power And Market



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