Sowell's most dangerous observation isn't about policy—it's about decision-making. He asks: "Compared to what?" The unconstrained vision assumes someone wise enough to design the perfect system. The constrained vision knows wisdom is scattered across millions of individual judgments. Bitcoin is the constrained vision crystallized. No central committee deciding monetary policy. No oracle declaring what money "should" be. The protocol treats all nodes equally; the network decides through transparent, decentralized consensus. You don't trust the planners because the system doesn't require you to. This is why central bankers find it so threatening. They've built their entire legitimacy on the claim that they possess superior knowledge—that their "expertise" justifies their power to create and control money. Bitcoin says: your knowledge isn't superior. Your incentives aren't pure. Your power isn't necessary. And here's a monetary system that proves it.

#sowell #bitcoin

#sowell #bitcoin #plebchain