J.D. Vance Wants a Free Market for Crypto. What About Everything Else?
Vice President J.D. Vance is not ignorant about the power of the free market. He’s just very selective about when that principle ought to apply.
“What you shouldn’t have is a dictatorial government that tells certain industries they’re not allowed to do what they need to do,” Vance said in an interview with Newsmax last week. “You’ve gotta let these people make decisions on their own. And that’s sort of been our approach.”
When I saw that clip on Twitter, I did a double-take. At first, I thought it must be some fake AI video—but, no, that’s the real Vance saying real words about the value of a laissez faire approach to economic policy.
The problem is that Vance applies that thinking in a very narrow way. In the Newsmax interview, he was talking about the Trump administration’s approach to regulating cryptocurrency. As he explained, “Our approach in the Trump administration is to say, let people innovate, let people figure this stuff out on their own. If the critics of Bitcoin are right—I happen to think they’re wrong—that will eventually win out in the marketplace.”
That’s exactly right. Like all currencies, bitcoin only has as much value as its users are willing to bestow upon it. The same is true for every other piece of cryptocurrencies—inc
Article from Reason.com
The Reason Magazine website is a go-to destination for libertarians seeking cogent analysis, investigative reporting, and thought-provoking commentary. Championing the principles of individual freedom, limited government, and free markets, the site offers a diverse range of articles, videos, and podcasts that challenge conventional wisdom and advocate for libertarian solutions. Whether you’re interested in politics, culture, or technology, Reason provides a unique lens that prioritizes liberty and rational discourse. It’s an essential resource for those who value critical thinking and nuanced debate in the pursuit of a freer society.
