Cryptocurrency is steadily chipping away at the foundational assumptions of Bernie and AOC-supported Modern Monetary Theory. The numbers may be small, but they disguise a larger movement away from geographic and political constraints on individual liberty.
. This was an explicitly political decision where desired outcomes were regarded as inequitable and DAO holders were made whole for reasons that had very little to do with technical maintenance but rather continued support of the community.
The political intervention required by MMT, on the other hand, requires faith in a nation-state, its ruling class and at its core, geographic limits and strictly defined taxation limits on individual liberty to prop up the value of what are essentially domestic tokens. Perhaps the easiest example of how cryptocurrency adherents chip away at MMT, and one which MMT adherents may be most sympathetic for, is the idea of the second-order political consequences of domestic consolidation.
Or perhaps we'll be in a middle ground, where a future Works Progress Administration builds great objects of national affection, but also channels funds politically to ensure re-election and conformity from a voter base.Chinese democracy activist, noted dissident and Nobel Peace Prize winner Liu Xiaobo
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