Articles from Max Gulker
Liberty Street Economics, the New York Fed’s blog, recently did a question-and-answer session with Fed economists Michael Lee and Antoine Martin about cryptocurrencies. It’s a largely neutral and factual interview, but the economists do make one provocative comment: “Cryptocurrencies arguably solve the problem of making payments in a trustless environment, but it is not obvious that this is a problem that needs solving, at least in the United States and other advanced economies.”
It only takes a quick glance at recent news to know Bitcoin is volatile; its fluctuations in price have made headlines for months now. But exactly how volatile is it relative to commonly used currencies, and how does that affect this cryptocurrency’s ability to actually be a usable medium of exchange?
What would happen if local governments had a lot more control over policy? Some localities could lower taxes and provide fewer services, while others could do the opposite. Local school boards could have much greater control over curricula and measuring outcomes. And many aspects of the culture wars could be settled at a level where far more consensus likely exists.