Block.one’s CTO, Daniel Larimer, has started a Twitter discussion about the current situation caused by the Coronavirus pandemic which has resulted in a shortage of goods and empty supermarket shelves in almost all countries.
The reason for this, according to Larimer, is government interference in the free market.
Moreover, Larimer explained how absurd it is that people cannot receive the gold or silver purchased and that restricting or delaying its distribution is absurd unless it is a plan by governments to create a distortion of the markets. In this regard Larimer mentions bitcoin, explaining that the situation is absurd, it is as if you had to wait 2-3 months to receive a BTC transaction.
In a free market, merchants increase the price as inventories decrease, and vice versa, thus allowing resources to be always available for everyone, things like basic necessities and useful products during this pandemic, such as masks and disinfectants.
Daniel Larimer on Twitter against governments
And it is precisely because of the interference of governments within the market or because of a deliberately ignorant population according to the needs of the government, that scarcity of goods and empty shelves arise: in fact, in a free market scarce goods are always available at a price and thanks to compensation low prices are maintained.
Empty shelves are evidence of government interference in the free market or an economically ignorant population educated by said government. In free markets scarce goods are always available at a price and competition keeps it as low as possible.
— Daniel Larimer (@bytemaster7) April 26, 2020
Larimer’s position denotes a strong liberal imprint and echoes the thought of Adam Smith where, with economic liberalism, which also translates into a truly democratic form of government, the State must ensure only essential public functions and guarantee, with legal rules, economic freedom without intervening in the market because this would undermine its stability.
It seems to be the opposite of the situation we are in now and which has allowed these imbalances that are leading to the failure of society.
