The Bitcoin Standard Podcast
50. Precautionary principle & mass hysteria
We compare the precautionary principle approach of obsessing over avoiding one negative outcome to the economic way of thinking, which entails examining the seen and unseen consequences of each action, and is a much more sane, safe, and intelligent way of approaching complex issues. We examine two contemporary episodes of global mass hysteria to see how dangerously reckless and counterproductive using the precautionary principle is.
Brought to you by Dr. Saifedean Ammous of The Bitcoin Standard Podcast