What does a real economist think of cryptocurrencies?
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> **I wouldn’t say the economists are worthless. I would say they haven’t been valuable yet. They may come to the party very late.**
Economists typically work for government and advise on [1] monetary policy, [2] fiscal policy (taxes), and [3] regulations.
With crypto, **monetary policy** will eventually, no longer be possible.
Because of globalization, **fiscal policy** (mostly personal and corporate income tax and similar) were on the long run already largely unfeasible.
**Regulations** are turning into a local thing. They can work but they can also make the location highly uncompetitive.
After everything has been said and done, modern government, with its intervention in all possible aspects of people’s lives, will become a thing of the past.
In economic terms, the size of government will fall back from spending over 50% of national income to less than 10%.
Cryptocurrency
