Regarding block chain technologies, while they might offer some cost savings they lack structure and so stability and security, and they are usually offered and supported by libertarian/Austrian/Gold Bug types who suffer from the fallacies of general equilibrium and who also tend to mistake chaos for freedom and so often advocate such “fixes” out of their irrationally generalized computation that government is and always must be tyrannical. This despite the fact that a philosophy of freedom and governmental policies that aligned with and effected freedom would logically result in…freedom.

I’m certainly not against any technology or strategy that is economic in the sense that it reduces cost. Now I AM against austerity (which is usually just anal authoritarian confusion) because it doesn’t work macro-economically and is both so inconsistent with the wealth we see all around us and with our incredible ability to produce.

But the point is you can tweak cost cutting and also pile on Keynesian stimulus forever and a day and you’ll never resolve the inherent systemic scarcity ratio between individual incomes and costs/prices. I know there are people who do not compute that reality or disbelieve it altogether, but considering that innovation and AI are going to quickly reduce aggregate individual incomes by a huge percentage it doesn’t matter whether one doesn’t understand it or doesn’t believe it is inherent anyway…because the reality of that scarcity ratio is increasingly and inevitably upon us…and so the policies of Social Credit/Wisdomics/Gracenomics will have to be implemented in order to deal with it.