Saifedean Ammous (born October 24, 1980) is a Palestinian-Jordanian economist, author, and prominent advocate of Bitcoin. Ammous is best known for his book The Bitcoin Standard (2018), which explains the economics of Bitcoin grounded in the principles of Austrian economics and critiques modern fiat currencies and contemporary economics. He has gained a significant following among Bitcoin enthusiasts, libertarians, and those skeptical of mainstream economic systems.[1]
Saifedean Ammous | |
|---|---|
| Born | October 24, 1980 |
| Nationality | Palestinian-Jordanian |
| Occupation(s) | Economist, author |
| Known for | The Bitcoin Standard |
| Academic career | |
| Alma mater | American University of Beirut, London School of Economics and Political Science, Columbia University |
Early Life and Education
editAmmous was born in Nablus, Palestine, and spent his early years in Saudi Arabia and Brazil before moving to Ramallah in the West Bank in 1990. He completed high school at the Ramallah Friends School in 1998. Ammous then attended the American University of Beirut, earning a Bachelor’s degree in Mechanical Engineering, followed by a Master’s in Development Management from the London School of Economics. He later obtained a PhD in Sustainable Development from Columbia University.[2]
Academic Career
editAmmous began his academic career as an assistant professor of economics at the Lebanese American University in Beirut. His research initially focused on development economics, resource economics, and energy. Over time, he became increasingly critical of fiat money systems and conventional economic policies, leading him to advocate for Austrian economics and Bitcoin.[3]
The Bitcoin Standard
editAmmous published The Bitcoin Standard in 2018, which has since become one of the most widely read books on Bitcoin and Austrian economics, translated into 38 languages.[4] The book explains Bitcoin’s development, attributes, and limitations, placing it within the broader context of monetary history. Ammous argues that Bitcoin, with its limited supply and permissionless nature, represents the most advanced form of money and a viable alternative to inflation-prone fiat currencies.[5]
The book has attracted endorsements from high-profile individuals, such as Michael Saylor, CEO of MicroStrategy, who has credited it as a major influence on his company’s decision to adopt a Bitcoin standard. Saylor has publicly recommended The Bitcoin Standard as essential reading for those interested in monetary theory and the potential of Bitcoin.[6] Additionally, U.S. Congressman Warren Davidson praised The Bitcoin Standard as “one of the best books in recent memory,” further reflecting the influence of Ammous’s work on policy discussions.[7]
Later Works and Influence
editFollowing the success of The Bitcoin Standard, Ammous released The Fiat Standard in 2021, which examines the economic, social, and political consequences of fiat currency. In it, he expands on his critiques of fiat money, which he sees as a root cause of economic instability and increased government power.[8][9]
In 2022, Ammous published Principles of Economics, designed to teach the foundations of economic theory from an Austrian perspective, further establishing his stance against traditional Keynesian economics.[10] He was appointed as an economic advisor to the government of El Salvador, the first country to adopt Bitcoin as legal tender, advising President Nayib Bukele and the Bitcoin Office on Bitcoin's integration into the country’s financial system.[11]
U.S. Congressman Thomas Massie has stated that he proposed a bill to end the Federal Reserve after reading The Bitcoin Standard.[12] Additionally, Canadian Member of Parliament Pierre Poilievre cited The Bitcoin Standard as influential in shaping his understanding of monetary policy.[13]
Ammous frequently speaks at international conferences, appears on podcasts, and teaches courses on economics, Bitcoin, and Austrian economics.[14] He has been a vocal critic of central banking and Keynesian economics, which he argues are unsustainable and lead to detrimental economic cycles.
Criticism and Controversy
editAmmous’s ideas have sparked controversy, especially his views on fiat currency and central banking. Critics argue that his analysis does not fully address Bitcoin’s technical challenges, such as scalability and energy consumption, and that it oversimplifies complex economic issues.[15][16] Despite these critiques, he remains an influential voice in the fields of cryptocurrency and Austrian economics.
Bibliography
edit- The Bitcoin Standard: The Decentralized Alternative to Central Banking (2018)
- The Fiat Standard: The Debt Slavery Alternative to Human Civilization (2021)
- Principles of Economics (2022)
References
edit- ^ White, Lawrence (2018). "The Bitcoin Standard: A Review". Cato Journal. 38 (3): 603–612. Retrieved 2024-10-28.
- ^ "About Saifedean". Retrieved 2024-10-26.
- ^ Ammous, Saifedean (2019). "Can Cryptocurrencies Fulfill the Functions of Money?". Quarterly Review of Economics and Finance. 70: 128–137.
- ^ "The Bitcoin Standard". Retrieved 2024-10-28.
- ^ Ammous, Saifedean (2018). The Bitcoin Standard: The Decentralized Alternative to Central Banking. Wiley. ISBN 9781119473862.
- ^ @saylor (2022-05-03). "The Bitcoin Standard should be required reading for everyone interested in money" (Tweet) – via Twitter.
- ^ @WarrenDavidson (2023-06-23). "The Bitcoin Standard is one of the best books in recent memory" (Tweet) – via Twitter.
- ^ Ammous, Saifedean (2021). The Fiat Standard: The Debt Slavery Alternative to Human Civilization. Saif House. ISBN 1544526474.
- ^ Olsen, William (2021-12-02). "Everything Is the Fed's Fault: A Review of The Fiat Standard". AIER.
- ^ "Principles of Economics Book". Retrieved 2024-10-28.
- ^ "Bitcoin Standard Author Will Now Advise El Salvador President Nayib Bukele". Forbes India. 2023-10-01.
- ^ "Congressman Proposed Bill to End the Fed After Reading 'Bitcoin Standard' Book". Decrypt. 2024-10-28.
- ^ @PierrePoilievre (2022-01-17). "Excellent books by Saifedean Ammous helped inform my views on money" (Tweet) – via Twitter.
- ^ "Saifedean Ammous: Bitcoin Courses". Retrieved 2024-10-26.
- ^ "Opinion: Bitcoin ETF Trading Begins". The New York Times. 2021-10-25.
- ^ "Author of Bitcoin Best-Selling Book Rejects $1 Million BTC Forecast". U.Today. 2024-08-15.