Re:Ask HN: Is anyone else glad the crypto market is crashing?
by next_xibalba on Thursday May 12, 2022 @01:53PM
(#31357639)
Whereas permanent poverty is a built in feature of non-market economies. Seems like an easy choice to make.
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Re:Ask HN: Is anyone else glad the crypto market is crashing?
by vkou on Thursday May 12, 2022 @02:10PM
(#31357906)
Permanent poverty is also a defining feature of feudalism, which is the end game of any unmanaged market economy.
That's another reason markets get a little bit of steering.
Re:Ask HN: Is anyone else glad the crypto market is crashing?
by kennywinker on Thursday May 12, 2022 @02:58PM
(#31358653)
Permanent poverty is built into this economy for all but a very very lucky few. We can do better, and framing the options as market-economy (what we have) and non-market-economy (everything else) is a false dichotomy. Markets can exist without the second-guilded-age capitalism we're in right now.