Unit 6 Lecture

Over the years, as the value of money has diminished, there has been a corresponding increase in people's time preference. This shift in mindset may have had two significant consequences: a diminished concern for personal health and well-being, and adverse effects on soil depletion. Dr. Saifedean argues that the advent of fiat money has reduced farmers' motivation to consider the future. Consequently, the quality of food consumed has declined. Topics covered include: Fiat food Fiat money Time Preference Ancel Keys Soil Depletion Food and Farming Subsidies Before you watch this video, think of how the monetary standard used by a certain society can be considered like the operating system of this society. If the operating system is flawed, it will have a detrimental impact on every application and software that relies on it. In this unit, our attention is directed towards examining the consequences of fiat money on one crucial aspect of human existence: food. The quality of food has a direct influence on individual health, and understanding the relationship between fiat money and its effects on the food system is of utmost importance.