Interview with Jeffrey Tucker on All Things Crypto, Part Two Conducted by Wendy McElroy The multi-faceted Jeffrey Tucker is an American writer who focuses Wendy: I was very impressed by an article in which you argued against the idea that Misesian regression theorem invalidated bitcoin as a money. For readers, the Regression theorem claims "Any valid medium of exchange (money) has to have a previous use as something else." Could you offer an overview of your argument?Jeff: Mises’s argument was that the root value of money traces to a conjectural history in which the pre-money form was deployed, for example, in barter. By 1949, Mises became hardened in this view: money had to originate in barter; there is no other path. From a historical point of view, this is probably correct. But it is a theoretically misleading formulation. ...
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