Starting from human nature and market economy
The Great Journey to Bitcoin
The greatest intellectual of this era, drawing the attention of world scholars
A masterpiece that encapsulates the thoughts of Saifeddin Amos.
* His works have been published in 39 languages ​​worldwide, and he is the leading authority on Bitcoin. *
* El Salvador's economic advisor, an Austrian School master drawing attention from the global financial community *
* The scholar who became the philosophical foundation of Michael Shaler, the strategy that shook Wall Street *

There is a saying that the economy makes me poor, but economics makes me rich.
Whether we are aware of it or not, everyone lives every moment of every day in the world of the 'economy', making 'economic decisions'.
This is why you absolutely must know ‘economics.’
Saifeddine Amos, who is attracting attention in the global economics community, explains various economic elements such as value, time, labor, ownership, transaction, and money through "Saifeddine Amos's Economics," which is a collection of his thoughts.
It clearly explains what the scarcest resource for humans is, how transactions are conducted, and what role money plays in the economy.
In particular, it provides a new perspective on the economy by critically criticizing points that mainstream economics has overlooked so far.
Bitcoin, a phenomenon that mainstream economics, which emphasized the importance of controlling the economy by managing fiat currency, found unacceptable or unwilling to accept, is now gradually emerging as a core part of the global economy. The ideas of Saifedine Amos, a leading figure in the Austrian School of Economics who is attracting attention as an alternative to mainstream economics, offer a guide to understanding today's economic phenomena.
This book, which concisely provides the most useful and actionable insights on economic thinking, will serve as an excellent guide to leading an 'economically' life.

The tradition of Mises and the Austrian School understands and defines human behavior as rational action.
In this context, the word 'rational' does not mean the correctness of an action according to objective standards or the appropriateness of an action to achieve the goals of the actor.
It also does not offer a moral judgment on behavior.
Rather, rational here is defined as the product of careful reason.
Humans act rationally whenever they reason and act.
Whether such actions serve one's own ends and win the approval of other parties evaluating the actions is irrelevant to 'rationality' as understood and defined by Mises.

---From "Action, Purpose, and Reason"

Beyond the problems of measurement and experimentation, a more serious logical problem with quantitative approaches to economics is that they conflate measurable factors with the causal factors that shape the world around us.
Quantitative methods for establishing relationships between collective measurements regard the aggregate as the driving force of causality, simply because of its measurable nature and consistency.
While in natural science, regularities and constants are discovered through repeated open experiments, empirical economists simply infer laws based on the assumption that their data are regular.

---From "Quantitative Analysis"

As discussed earlier, economic scarcity is ultimately a scarcity of human time.
Then we can also understand that saving time is central to human frugal behavior.
That is, we strive to increase the amount and subjective value of the time given on Earth.
The lack of time means that humans are constantly trying to save time so that they can use it in the most satisfying or valuable way.

---From "Saving Time"

The limit to capital investment is the current opportunity cost of current goods.
The high opportunity cost of capital that comes with owning too much capital can never be exhausted.
The reason why no more productive ships are built than the Annelis Ileana is because potential investors value other investment opportunities or spending more than taking the risk of building such a large vessel.
As more capital accumulates, the productivity of our time increases, and as the value of time increases, the value of leisure also increases, increasing the cost of sacrificing leisure for labor and capital.

---From "The Limits of Capital"

The belief that resources are scarce and limited misunderstands the nature of scarcity, a core concept in economics.
The absolute amount of all raw materials on Earth is too large for humans to measure or understand, so there can be no practical limit to how much humans can produce.
We have barely scratched the surface of the Earth in search of the minerals we need.
The more you explore and dig deeper, the more resources you can find.
The only realistic and practical limit to the quantity of any resource is the human time invested in its production.
Because human time is the only scarce resource.

---From "Abundance of Energy"

One of the most common misconceptions in economics is confusing value with price.
The mere fact that people voluntarily participate in exchanges shows that such thinking is flawed.
A person who pays $10 for a good does not value the good at $10.
We value it at more than $10 because we are willing to give up $10 in exchange for the good.
On the other hand, it is clear that the seller will value the goods at less than $10.
Because they are willing to give up goods for $10.

---From "Subjective Value Assessment"

The process by which money emerges and is selected in the market can be understood entirely in terms of human behavior.
There is no need to invoke coercive authority to select or manufacture a monetary medium.
Money, like all goods, is given value by appearing in the market and providing utility to people.
This assertion is supported by historical and empirical evidence that clearly demonstrates that monetary media precede government monetary mandates.
Gold's role as a global currency was not imposed by any government authority.
Gold acquired the role of currency in the market, and any government that wanted to run its country successfully had to accept gold as its currency in the market.

---From "Money and the State"