Debt Of Nations: Bitcoin Is An Alternative To The Physical Hand Of Keynesian Economics Today

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In 1776, Adam Smith published, “The Wealth of Nations” and, for the most part, the near 1,000-page document confused, perplexed or completely lost many readers in what some considered a wandering and often “off subject” digressive narrative. Some of the most brilliant thinkers see correlations where the masses do not.

Smith is considered to be to economics what Isaac Newton was to mathematics or physics (Diemer and Guillemin, 2011). In the end, Adam Smith’s 1776 work brought forth a debate between how to govern: exempli gratia, an invisible hand versus a physical hand. The debate continues today in regard to market manipulation, quantitative easing, the role of digital assets (bitcoin) and a definition of “real wealth.” This article explores these topics as well as reaches beyond prototypical financial or economic examples in an attempt to propose alternative solutions.