The Philosophy of the Economy is a branch of Philosophy and in turn of the Economy that based on the "Love for Wisdom" studies all the Philosophical aspects of the Economy, based on its own principles and in parallel with its ethical aspects and morals.

That is to say, the Philosophy of the Economy is in charge of analyzing the philosophical, ethical and moral components of the processes of production, marketing, exchange, logistics, distribution and consumption of products and services, in the environment of society; and in conjunction with human behavior and its relation between given purposes, scarce means and their alternative uses.

Basic Concepts

In the context of the Economy, it is essential to know about the Economic Value, in terms of the Theories of Value, and understood as a magnitude with which the different economic products are measured by comparing their utility, costs, supply and demand. Nonetheless, it should be emphasized that the variables total utility, costs, use value or change, supply and demand of the market, allow to differentiate the concepts of value and price.

In this sense, the Theory of Value Work, has at least two aspects (there are really many currents, but I will only touch the ones that I consider most important in my way of seeing things), in one it is inferred that the value of a produtcs or service it is directly proportional to the amount of work required; Another current proposes that value is the magnitude necessary for the social production of an economic product, according to its use value and at a specific level of technological development.

But. in the Classical Economy all products and services represent exchange values, therefore the cost of opportunity is added to the cost of production (potential profits that are lost when deciding to produce one or the other product), and the final price is added the changes derived from the "invisible hand of the market" according to the free game of "Supply and Demand".

Similarly, it is necessary to understand what the Market means, defined as the mutual agreement for the series of transactions required for the processes of exchange of products or services between natural persons and/or legal entities. The Market represents a real or virtual social environment for the aforementioned exchange, in which the bidders and plaintiffs interact in close relationship for their commercial transactions.

Fundamental Aspects of the Philosophy of Economics

The basis of the Philosophy of Economics is centered on ethics, morals, honor, honesty and the high principles and values that should govern at all levels, postulates, preaches and practices in the Economy (I recommend reading the postulates " originals "-not distorted- by: Mark Blaug, Alexander Rosenberg, Daniel Hausman, Deirdre McCloskey, John Rawls, Robert Nozick, and even Adam Smith and Karl Marx). Similarly, it is based on:

.- The "Game Theory": using models to study interactions in formal structures of "rewards" and losses; and used to understand human behavior in the face of decision making.

.- The "Dilemma of the Prisoners": shows that two people may not cooperate even if it goes against the interest of both; but, it has been improved with the "Iterated Prisoners Dilemma", in which cooperation can be obtained when the game is repeated, and players are offered the opportunity to punish for non-cooperation in previous games; and the threat of punishment can lead to a cooperative outcome.

.- The "Economic Agents": actors that make decisions in an economic model, by solving a problem of optimization/defined choice. For example, in the Economy of the Cryptocurrency, the "miners", buyers, sellers and intermediaries (traders), are the common types of agents in the partial equilibrium models of said market.

.- The "Decision Theory": related to cognitive and behavioral perspectives, regarding the study of the behavior and psychic phenomena of decision makers, as well as their conditions.

.- For its development and "precision": it requires the competition between several disciplines: Mathematics, Physics, Economics, Philosophy, Statistics and Sociology, among others.

Philosophy of the Economy in the Cryptocurrency Environment

Everything previously presented, constitutes the theoretical framework and the current practice for the Philosophical Approaches of the Economy, that rule in the "Market of the Cryptocurrency", complemented with other objective factors, among which stand out: the election, rationality, risks, uncertainty, speculation, monopoly, exchange, market, value and economic agents.

In terms of the principles, values, morals and ethics of the Economy of the Cripomonedas, its complexity transcends the structure of "production", the allocation or transfer of economic resources, the schemes of PoW (Proof of Work for "mining") , spending on equipment and time of "mining", the distribution and "consumption" of cryptocurrencies, the free play of supply and demand; and other complicated details, such as shortages, due to 21 or 42 million cryptocurrencies of each type limited at most in the market.

It is noteworthy that the Philosophical Approaches of the Economics of the Cripomonedas are based on key principles, such as "Theory of Justice", "Idealist Theory or Utopia" and "Theory of Utilitarianism", among others. However, his weakness is established on the basis of "speculations" as a "real" and declared enemy; therefore the promising future of cryptocurrencies as "active" is diluted due to "speculators", because they cause large fluctuations in the "value" of cryptocurrencies that do not allow them to be established with all the properties that an exchange good must have ( unit of account, value reserve and current currency, for further explanation of this point, please read the Post: https://steemit.com/lunesnumeral/@josevasquez/numbers-do-not-lie-care-with-bitcoin).

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