Filling the hole in Bitcoin's Heart Jan 31, 2022 A response to Brett Scott's fantastic post, 'The Hole in Bitcoin's Heart' ...
The Velocity of Money Jan 30, 2022 A new look at the Velocity of Money, what it can tell us about the structure of the payment system, and what it might mean for a more sustainable approach to economic growth. ...
The Market Pattern Jan 11, 2022 Last year I read F.A. Hayek’s The Road to Serfdom and Karl Polanyi’s The Great Transformation back to back. Both published in 1944, these great works of political economics were attempts by their authors to grapple with the collapse of western civilization into the fascist totalitarianism of the Second World War. For Hayek, a classical liberal, totalitarian tragedy follows inevitably from the authoritarianism of State Socialism. For Polanyi, who was more of an economic sociologist, the fascism of WWII followed inevitably from the dehumanizing forces of the preceding century of Market Capitalism. ...
Orange is the new Green Aug 26, 2021 An exploration of why Bitcoin is better for the world than Tesla. Contents include: The Problem with Tesla; the Promise of Bitcoin; Monetary Institutions and Political Economy; Proof of Work and International Trust; Mining is Not as Bad As You Think; What About Proof of Stake? ...
Socially Responsible Investing Jul 22, 2021 A review of the miserable state of socially responsible investing, and what to potentially do about it ...
Reconsidering the Factors of Production Jul 18, 2021 An approach to synthesizing the heterdox schools of economics via a more comprehensive sociological theory of the factors of production, including energy and money. ...
Local Money and Liquidity Saving May 29, 2021 A short review of some types of local money systems, with a focus on their potential as liquidity saving mechanisms via credit clearing. ...
Critique of MMT from a Monetary Localist May 15, 2021 Modern Monetary Theory is refocusing economics on an important set of ideas: monetary sovereignty, the resource constraint, and a basic jobs program. There are curious parallels to cryptocurrencies. But MMT still has some ways to go to become the ecologically and socially sound theory of money we so desperately need ...
The Modest Mongolian Apr 25, 2020 If Alexander The Great brought a few hundred years of early European cultural evolution to the East, it wasn't until the empire of Genghis Khan, the Modest Mongolian, that a *millenium* of Chinese cultural evolution was brought back West, effectively ending the Middle Ages and laying the foundation for the Enlightenment in Europe. This is the story of how Genghis Khan conquered the world. ...
Happy 1st Birthday Cosmos! Mar 13, 2020 One whole year ago today, the Cosmos community made history with the successful decentralized launch of the Gaia blockchain, also known as the Cosmos Hub. After being “two months away” from launch for about 16 months, I couldn’t even begin to describe the joy of seeing our incredible community of validators launch Gaia into the world. I checked block explorers many times each day, in complete awe that this software we had spent years building was actually running in a production economic environment; that it was making blocks every ~6 seconds; that it hadn’t completely fallen over. ...