Suffice to say, free markets and strong property rights — the cornerstones of functioning capitalist economies — are under global assault. This is unlikely to reverse. The global underclass, increasingly futile, craves intervention, and will tolerate gross immiserati…
… chimeras. It didn’t take a genius to spot this, but the empirical reality has set in for good now. A utility token world is analogous to one in which a frictional forex transaction is required not for interstate travel as is the case today, but from one store to the next. Utility tokens proposed a dismal regression, and we are better off now that they have been repudiat…