WHY YOU CAN'T HAVE A PPE CURRICULUM WITHOUT BITCOIN

11 January 2022

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The Philosophy, Politics, and Economics (PPE) curriculum has long been regarded as the intellectual training ground for future leaders, policymakers, and thinkers. Originating at Oxford and later adopted by elite institutions worldwide, PPE aims to cultivate critical reasoning, ethical judgment, and economic literacy. However, in an era defined by digital transformation, monetary instability, and declining trust in institutions, the traditional PPE framework is no longer sufficient. Any modern PPE curriculum that excludes Bitcoin is fundamentally incomplete.

Bitcoin is not merely a technological novelty or speculative asset; it is a paradigm-shifting innovation that intersects deeply with philosophy, politics, and economics. To omit Bitcoin from PPE is to ignore one of the most consequential developments in modern intellectual and institutional history.

Bitcoin as Applied Monetary Philosophy

At its core, Bitcoin represents a philosophical challenge to long-standing assumptions about money, authority, and trust. Classical philosophy has grappled with questions of value, sovereignty, and human coordination for centuries—from Aristotle’s reflections on money as a social convention to John Locke’s theories of property and consent. Bitcoin operationalizes these debates in code.

Unlike fiat currency, Bitcoin is governed not by centralized authority but by transparent, immutable rules. This raises profound philosophical questions: Can trust be replaced by verification? Is monetary authority a moral necessity or a historical accident? What does it mean for money to be neutral, censorship-resistant, and borderless?

For PPE students, Bitcoin is a living case study in applied philosophy. It forces engagement with epistemology (how we know rules are enforced), ethics (fairness, inclusion, and consent), and political philosophy (the legitimacy of power). Ignoring Bitcoin deprives students of a real-world framework through which abstract philosophical theories become tangible.

Political Power, Sovereignty, and Decentralization

From a political perspective, Bitcoin is revolutionary. Modern politics is inseparable from monetary power. States exert influence through currency issuance, capital controls, sanctions, and inflationary policy. Bitcoin directly challenges this monopoly.

Bitcoin introduces the concept of decentralized sovereignty—where individuals, rather than governments, maintain direct control over assets. This has far-reaching implications for authoritarian regimes, financial censorship, and human rights. In countries experiencing hyperinflation or capital flight, Bitcoin has already become a tool of economic survival and political resistance.

A PPE curriculum that explores governance, legitimacy, and power without examining Bitcoin is intellectually negligent. Bitcoin reshapes the relationship between the individual and the state, redefining what political autonomy looks like in a digital age. It also raises critical policy questions: How should governments respond to non-sovereign money? Can regulation coexist with decentralization? What happens when monetary policy loses effectiveness?

These are not hypothetical questions—they are unfolding in real time.

Economics Beyond Textbooks

Economics is perhaps the most obvious domain in which Bitcoin belongs. Traditional economic education often relies on simplified models that assume rational actors, stable institutions, and centrally managed monetary systems. Bitcoin disrupts all three.

Bitcoin has a fixed supply, predictable issuance, and no central bank. This makes it an unprecedented experiment in monetary economics. It challenges Keynesian assumptions about inflation targeting, exposes weaknesses in modern monetary theory, and revives debates around sound money, Austrian economics, and deflationary systems.

Moreover, Bitcoin’s market behavior offers rich empirical data for studying game theory, network effects, incentive design, and behavioral finance. Mining economics, transaction fees, and security budgets provide real-world examples of mechanism design at scale.

To teach economics in the 21st century without Bitcoin is akin to teaching political economy without discussing capitalism. It leaves students unprepared to analyze emerging financial systems, digital assets, and macroeconomic instability.

Institutional Trust and Systemic Risk

One of the most overlooked aspects of Bitcoin is its critique of institutional trust. The 2008 financial crisis exposed the fragility of global banking systems and the moral hazard embedded within them. Bitcoin emerged directly in response to that failure.

For PPE students studying institutions, incentives, and systemic risk, Bitcoin offers a compelling counter-model. It replaces opaque decision-making with transparent protocols and replaces discretionary authority with algorithmic governance. This invites critical comparison: Are rule-based systems more resilient than discretionary ones? Does decentralization reduce systemic risk or merely redistribute it?

These questions are central to modern political economy and cannot be adequately addressed without engaging with Bitcoin as both a technological and institutional innovation.

Preparing Future Leaders for Reality

PPE graduates often go on to shape policy, manage institutions, and influence public discourse. Excluding Bitcoin from their education leaves them ill-equipped to navigate the realities of a digitized, decentralized global economy.

Bitcoin is already influencing central bank digital currencies (CBDCs), regulatory frameworks, geopolitical strategy, and corporate treasury management. It affects energy markets, cybersecurity, and international remittances. Future leaders must understand not only how Bitcoin works, but why it exists and what it represents.

A PPE curriculum that fails to address Bitcoin risks becoming outdated, theoretical, and disconnected from real-world challenges.

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