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Source: jimmysong.substack.com ยท
One very strange phenomenon in economics is the one of Velben goods. These are goods whose demand goes up when the price goes up. Normally, price has to go down in order for demand to go up. One of the intriguing examples of Velben goods might be monetary mediums, such as Bitcoin. It is in this context that the feature article for today adds to the development of an economic theory around Bitcoin.

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