Category Archives: Free markets and their discontents

The Doomsday Economics of ‘Proof-of-Work’ in Cryptocurrencies

Why inherent problems with cryptocurrency liquidity are already leading to consideration of other methods for validating blockchain updates. They are likely to prove unsatisfactory and therefore call for verification by a trusted institution….defeating the rationale for cryptocurrencies.


Bezos Admits His Fortune Is Due to Public Infrastructure….Even as He Fought Paying a Homeless Tax in Seattle, Shakes Down Cities for Subsidies

Bezos admits he and other squillionaires didn’t do the “heavy lifting” of building the infrastructure on which tech enterprises depend….yet tries to depict a space venture as a greenfield project. Help me.