Social Reproduction and Production in Capitalist Society: A Comprehensive Relational Approach — Ayşe Arslan

Although social reproductive work has historically been associated with women in different modes of production, with the spatial separation of reproduction from production in industrial capitalist society, women were further associated with the domestic sphere and reproductive work. The burden of reproductive work on women has increased even more in the last four decades as a result of neoliberal policies. Neoliberalism, which is characterised by the increasing privatisation of social reproduction and worsening labour conditions, has forced more women to accept low-paying, informal jobs while at the same time performing an increased amount of reproductive work in their families due to significant cuts in social welfare provisions.

Today, the COVID-19 pandemic has once again shown the great importance of social reproduction to international and national political economies, and the destructive effects of neoliberalism on lives on a global level. Thus, in both the academic and political arenas, we need once again to underline the centrality of social reproduction and women’s unpaid reproductive labour to society and capitalist production.... 

Social reproduction, which is the foundation of society, is treated as an externality in capitalist economies that privatize the gains that can be capitalized and socialize the expenses that can be externalized. 

Developing Economics
Social Reproduction and Production in Capitalist Society: A Comprehensive Relational Approach
Ayşe Arslan

Information Take Two — Peter Radford

Imposing order requires energy, and so we have the three components of fundamental economic analysis: information, the natural resources of the environment, and energy. I have argued that these three are more useful to us than the standard capital and labor because they elevate information onto center stage, which is where it belongs. Besides if you think defining information is difficult try parsing out exactly what we mean by either capital or labor. Shannon’s dictum about the variety of definitions applies equally well, if not more, to them.

For those of you skeptical of this consider a typical product you use. Imagine it being broken. Imagine, as an example, a motor car after a major accident. The car is unusable. It has lost considerable value. Perhaps it can be repaired, but in its damaged state it is worth a lot less. Why? The metal and other natural resources of the car still exist. They have not been lost. So it is not the resource base of the car that is the core of value. We will need to consume more energy to fix the car, so there’s a source of loss. But what is that energy doing? It is allowing us to re-order the material of the car to re-capture its design. It is the design of the far where the largest value resides. And design is information....

A very simple way to think about this is in terms of three factors of change — mass, energy and information. Energy produces change in the structure of mass, and information orders it (design). Conscious ordering through information is intelligent design. of which humans are capable of individually and on a mass scale, shaping their environment, on one hand, and social reproduction, on the other.

Energy is conserved, but information can increase or decrease in quantity and quality depending on creativity and the direction of social reproduction in terms of discovery and invention, along with their spatial and temporal transmission through institutions and culture.

This is also the basis of economics as the study of economies as a life-support system for an economic group, e.g., household, firm, or else for a society. Regardless of scope and scale, economic groupings are social systems, either simple or complex. Individuals are not economic agents in isolation, e.g, to the degree that economics concerns exchange.

This leads to the question as to whether information is so complex as to imply that the most efficient and effective way of deploying resources is through market forces in free markets, as Hayek argued in his Nobel lecture, "The Pretense of Knowledge." Or, is it more efficient and effective to use some approach to consciously intelligent systems design that does not rely chiefly or exclusively on market forces.

The Radford Free Press
Information Take Two
Peter Radford

Bill Mitchell — The income-expenditure relationship in macroeconomics – graphic treatment

We have been doing a lot of work developing the MOOC at the University of Newcastle which will also mark the first – MMTed material. We will follow up the MOOC with more detailed learning options in subsequent months. Tomorrow, we will be filming some more material for the MOOC and I think you will enjoy what we have planned when the MOOC begins on March 3, 2021. As part of the planning I have been thinking of simplified frameworks for teaching rather complicated concepts and relationships. Here is an example of that sort of thinking.…

Free MMT course. Pass it on.

What follows is a short graphic presentation of sectoral balances in place of the algebraic one.

Bill Mitchell – billy blog

The income-expenditure relationship in macroeconomics – graphic treatment

Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia

Links — 15 Feb 2021

PPE
Capitalist Political Economy
Heather Whiteside

Moon of Alabama (been going on for a least a century)
New Documents Reveal More British Efforts To Undermine Russia

SouthFront (cites a Telegraph article that is behind a paywall)
Churchill Labeled ‘White Supremacist’ By Leading British Scholars

Ray McGovern (red lines)
US-Russia, Recent History and Outlook for the Future

Ray McGovern, co-founder of Veteran Intelligence Professionals for Sanity, and retired 27-year career CIA whose tasks included preparing and briefing The President’s Daily Brief and leading the Soviet Foreign Policy Branch

TASS
Attempts to deter Russia intensify as it grows stronger — Putin

PopularResistance.Org
US And NATO Moving Against Russia’s Last Buffers
Terrace

TASS

Russia will never turn its back on Donbass — Putin

TASS
Brussels deliberately destroyed framework of Russia-EU ties, says Lavrov

Russia Observer
THE WEST IS LOSING ITS SOFT POWER
Patrick Armstrong

Common Dreams

'We Must Get to the Truth': Pelosi Announces Far-Reaching Probe Into Insurrection Incited by Trump
Jon Queally, staff writer

Slate
More Than 60% of Republicans Want a Third Party, a Huge Increase From Last Year
Daniel Politi

Common Dreams
'More Challenging This Year Than Last': UN Envoy Warns Global Food Crisis Getting Worse, Not Better

Jesssica Corbett

PopularResistance (Farmers strike in India) 

The Largest Strike In Human History
Terrace

POLITICO
NATO defense chiefs to discuss staying in Afghanistan a bit longer
David M. Herszenhorn

MintPress News
DARPA’s New Space Program Stirs Worldwide Concern
Raul Diego

ECNS
Douyin remains world's top grossing app in January: report

Xinhua

Strategic Culture Foundation
Cultural Deafness Defines the West
Alastair Crooke | founder and director of the Conflicts Forum, and former British diplomat and senior figure in British intelligence and in European Union diplomacy

Sputnik International (national and regional self-sufficiency)
France Slams EU's 'Unacceptable' Reliance on Asian Tech, Urges Independence & New Space Plan

Wolfgang Streeck: “I definitely prefer a cooperative over an empire” — Interview

The “New World Order” proclaimed by G. H. W. Bush after 1990 was to be an order, not without sovereign nation-states, but with just one sovereign nation-state, the United States. That state, acting as a world-state in waiting, was to take the place of the so-called Liberal International Order, which was allegedly multilateral but had in effect increasingly become unilateral and imperial….

"The rules-based order."

Then there is the "German question."

In fact, one reason why I am against the kind of European Union that has been shaping up for the past two decades is that Germany would inevitably be its hegemon, more or less hidden behind a deeply asymmetrical alliance with France. A German European empire lacks both historical legitimacy and the resources needed to compensate dependent peripheral countries for accepting German rule. The result would be perennial tensions between Germany and the rest of Europe, as well as inside Germany over the price to pay for empire....

Solidarity and internationalism are important, but if they are vested in international markets and imperial organizations all you get is neoliberalism and imperial rule; they must be rooted in national politics and fought for from there, or they won’t get very far. 

Brave New World
Wolfgang Streeck: “I definitely prefer a cooperative over an empire”

The Information Conundrum — Peter Radford

More foundational stuff that addresses the issue regarding why we don't have a satisfactory economic theory. The answer? Complexity. 

Economists prefer simple algorithms but these are not up to the job. The simple supply-demand methodology based on pop psychology (rational choice theory, rational maximization) has shown itself to be inadequate for the reasons that heterodox economists point out.

And complex algorithms are, well, complex. So there is as yet no alternative theoretical framework based on a more realistic method.

The Radford Free Press
The Information Conundrum
Peter Radford

Richard D. Wolff — The Centres of Global Capitalism Are Migrating Away From the U.S., Europe and Japan

De-colonization proceeds apace.

Brave New Europe
Richard D. Wolff – The Centres of Global Capitalism Are Migrating Away From the U.S., Europe and Japan

Richard D. Wolff | professor of economics emeritus at the University of Massachusetts, Amherst, and visiting professor in the Graduate Program in International Affairs of the New School University, in New York

The New Gold — Brian Romanchuk

BTC is a pyramid scheme, not a currency. The driving economic force is for existing holders to proselytise new members into the scheme. The new members in turn hope to recruit other members. The large existing holders have the financial capacity and incentive to bankroll conferences, researchers, etc. In order to take part in the gravy train, you just need to stick to the narrative....

Bond Economics
The New Gold
Brian Romanchuk

An opposing view.

Guns, Goats 'N Gold
Market Weekly: Still Don’t Think Bitcoin is #Winning? You’re a Loser.

Tom Luongo

5 Studies on Saturated Fat — Time to Retire the Myth?

 Since the 1950s, people have believed that saturated fat is bad for human health.

This was originally based on observational studies showing that people who consumed a lot of saturated fat had higher rates of death from heart disease.

The diet-heart hypothesis states that saturated fat raises LDL (bad) cholesterol in the blood, which then supposedly lodges in the arteries and causes heart disease.

Even though this hypothesis has never been proven, most official dietary guidelines are based on it (1Trusted Source).

While the issue is still debated, numerous recent studies have found no link between saturated fat consumption and heart disease.

This article reviews 5 of the large, most comprehensive and most recent studies on this issue.

Healthline

5 Studies on Saturated Fat — Time to Retire the Myth?

Artery-clogging saturated fat myth debunked

Excercise and sufficient fruits and vegetables. 

Saturated fat does not clog the arteries: coronary heart disease is a chronic inflammatory condition, the risk of which can be effectively reduced from healthy lifestyle interventions

Bill Mitchell — Central banks should just write off all their government debt holdings

The tensions in the public policy debate between economists is intensifying and on show in Europe, where these sort of obvious conflicts between adherence to dogma and a recognition that ‘out-the-box’ solutions are not only possible but preferred. More of these latter thought offerings are starting to appear as more people come to understand that the mainstream dogma has become more of a security blanket for reputations rather than saying anything about reality. One such proposal emerged last week in the form of a letter to the major European newspapers signed by more than 100 letters calling for the ECB to write-off its massive public debt holdings, which currently amount to around 25 per cent of total outstanding public debt. It is a good idea but some of the framing leaves a lot to be desired. At any rate, central banks everywhere should be buying up massive amounts of government debt and hitting the keyboard with zeros and writing it off. The world would be a much better place if they did that....

Bill Mitchell – billy blog
Central banks should just write off all their government debt holdings
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia

There is No Such Thing as a Free Market — Ron Driver

Nice short summary of why "free market" is BS used for persuasion.

It begins with a misrepresentation of Adam Smith (as Michael Hudson tirelesslyy points out).

Supporters of ‘free’ markets use the word ‘free’ to mean free from government interference. They often quote the economist and philosopher, Adam Smith, who wrote about the ‘invisible hand of the market’ creating good outcomes for society. However, his writing has been deliberately distorted to turn it into propaganda. Smith used the word ‘free’ to mean something completely different. He meant free from big companies and wealthy landowners with too much power, who could make unearned profits (these are sometimes called economic rents, or ‘free lunches’, discussed in later posts.) Smith was all in favour of governments interfering to stop companies gaining that power, and to stop them making excessive profits.

That is probably an excessive statement. Smith wanted government out of the business of micromanaging the economy, including trade, but as a philosopher of human nature, he was well aware that the regulatory function of government was needed to discipline excessive pursuit of self-interest as a primary motivation in commerce. He was also aware that government can be suborned to favor class interests.

Smith was arguing for an enlightened liberalism rather than promoting laissez-faire. He realized that there are two great power blocs – government and business. The should balance each other rather than one bloc dominating. 

While Smith did not foresee it as far as I know, the worst of all worlds would be an unholy alliance of the two blocs, which history shows can take different totalitarian forms. The present challenge is totalitarian international corporatism that captures and suborns states.

The real economic problem the world faces now is not supply but rather distribution skewed by economic rent and rent extraction through exertion of power. Market power is often the result of political power, for example, anti-competitiveness, artificial scarcity and externalities.

Elephants In The Room
There is No Such Thing as a Free Market
Ron Driver

See also

Really Existing Capitalism is Crony Capitalism

Southfront — US Changes Its Role In Yemeni War As It Seeks To Impose ‘Peace Deal’ On Its Terms

Before you start celebrating Biden's "changed" position on Yemen. Cosmetic.

Southfront
US Changes Its Role In Yemeni War As It Seeks To Impose ‘Peace Deal’ On Its Terms

The “For the People Act” Would Make the U.S. a Democracy — Jon Schwarz

 A step in the right direction but still a long way from "government of the people, by the people and for the people." At a minimum that would require elections being decided by a majority vote and the ending of legalized corruption. What now exists in the US is plutocratic oligarchy, specifically corporate statism aka neoliberalism.

The Intercept

The “For the People Act” Would Make the U.S. a Democracy
Jon Schwarz

Why the British abandoned impeachment – and what the US Congress might do next — Eliga Gould

Now that it is over.…

The Conversation
Why the British abandoned impeachment – and what the US Congress might do next

Eliga Gould | Professor of History, University of New Hampshire

News from neoliberal India under Nardenra Modi

This budget session of Parliament signals a new turn in our national politics. After decades of fighting over personalities or rival ideologies built on religious and caste identities, India is stepping into an era of clear debate on economic policies.

We have seen this already, with Prime Minister Narendra Modi making an unabashed and unqualified pitch for the private sector, and Rahul Gandhi responding with not just the charge of crony capitalism, as in ‘hum do, humare do’ but also reading in the farm laws an anti-poor hijack of the poor farmer by the private sector. This is change....

This is how politics is always played in a democracy. No one ever won power by being nice or fair to the other side. What’s new, today, is that for the first time in our politics, there is a clear Right-Left divide on the economy. What matters is that henceforth people will go to vote with a clear choice between unabashed backers of private sector and freshly dyed-in-red socialists....

Tidbit: One per cent of Indians own 73 per cent of national wealth.

The Print

Economic ideology is the new binary in Indian politics as Modi swerves Right & Rahul Left 

Sheekar Gupta

Also

Radhakrishnan explains why farmers are rising up, how they are organized, and how the neoliberal government of Narendra Modi has responded to the movement.

Just one day after this interview, the Modi government raided the offices of Radhakrishnan’s employer, Newsclick.in, and detained its editors in what has been denounced as an act of intimidation against critical media. Learn more about the disturbing press crackdown here.

The Grayzone
Explaining India’s farmer uprising, the largest strike in human history 

Anya Parampil

China and SWIFT Partner to Take Digital Currency Global

 China’s central bank has partnered with SWIFT, the European-based global system for financial messaging and cross-border payments, to set up a joint venture — a move that observers say shows China’s ambitions to take the digital version of its currency, the yuan, global.

Some analysts VOA spoke to add that the development may further trigger a “hot” war between the official digital currency, often called the renminbi, and the U.S. dollar, although many agree that China’s currency still has a long way to go before it would rival its U.S. counterpart.

VOA

China and SWIFT Partner to Take Digital Currency Global

KV - Just Another Day on Twitter

 There were times when it ended up like this on Twitter. I now just mute people when I see where it's heading. Three tweets and then the mute button. 

I once fought the climate change deniers for two weeks, and that's when I discovered how the conspiracy theory mind works, which forced me to rethink my own conspiracy theories. 

The deniers would get personal and be insulting. I was surprised at how low they would go.

Another bad time is when I agreed with a science article about overpopulation. Then all hell broke out when the Agenda 21 crowd went for me, but I wiped them out singlehandedly, although the debate lasted on all day. 

The Covid skeptics and the antivaxers were next. 

The people who scared me the most were the Zionists, who I felt would kill me if they could. To them it's warfare.

I don't get into heavy debates now, I just press the mute button, otherwise I reply. 

Catherine Chan - Why cheese may help control your blood sugar

Eat too your heart's content, unless they change their minds again. 

Mmmm, cheese – a food as nutritious as it is delicious. Or is it?

On the one hand, cheese is an excellent source of minerals like calcium and magnesium, vitamins A, B2 and B12, not to mention being a complete protein.

On the other hand, cheese is also a significant source of saturated fat and sodium in our diets. To lower saturated fat intake, consuming reduced-fat cheese is sometimes recommended to lower cardiovascular disease risk.

Paradoxically, however, there is now a growing body of evidence that people who eat lots of cheese do not have a higher risk of cardiovascular diseases, including Type 2 diabetes.

Universal Sci 

Catherine Chan - Why cheese may help control your blood sugar

Lars P. Syll — MMT basics

Good summary of the loanable funds theory and why it is wrong.

Lars P. Syll’s Blog
MMT basics

Lars P. Syll | Professor, Malmo University

Jean-Luc Godard - Pierrot Le Fou

I've become maxed out on politics because I have been very active on twitter for six months fighting Western propaganda and xenophobia. I think I did quite well and I picked up loads of followers, but I needed a rest, so I started up a new twitter account for science, art, film, music, metaphysics, spirituality and no politics. You probably don't share my interests, but I think that occasionally something different on MNEs looks quite good and gives variety. 

Jean-Luc Godard was a French film director who made the romantic thriller, Pierrot Le Fou, in 1965. I find the film very interesting, plus  I like Annie Karina, especially in this film, and I love anything to do with the sea, so I'm hoping to retire to the coast one day. 

But the film looks striking and I always thought it was because of the Technocolor, which was always rich and powerful, but I realised the other day that Jean-Lec Godard had deliberately shot the film using predominantly red and blue themes throughout, which gives it a surreal effect. I don't know any other film which has used colour like this. 

Pierrot Le Fou short review

A more indepth analysis. 

What is Pierrot exactly ? a video essay on Pierrot le fou (Jean-Luc Godard, 1965)

Erin go bragh

Only by remembering complex, uncomfortable aspects of Britain and Ireland’s shared history can we forge a better future

The Guardian
Empire shaped Ireland's past. A century after partition, it still shapes our present
Michael D Higgins | President of Ireland

See also by President Higgins at the Guardian

Irish president attacks 'feigned amnesia' over British imperialism

Slouching toward war with Russia

Warning!

Strategic Culture Foundation
NATO’s Road To Perdition With Ukraine

Editorial

The Strategic Culture Foundation is alleged by the US to be an organ of the Russian state.

"GEC Special Report: Russia's Pillars of Disinformation and Propaganda" (PDF). United States Department of State. August 4, 2020.

See also

Moon of Alabama
EU - Russia Conflict Deepens

See also

Sputnik International
Moscow Ready to Break Ties With EU if Bloc Puts Russian Economy at Risk, Foreign Minister Says

See also

TASS
Lavrov says Navalny’s video, his return to Russia were master-minded affair

See also

Gilbert Doctorow

‘If You Want Peace, Prepare for War!’ Sergei Lavrov to the EU

Gilbert Doctorow

See also

Reminiscence of the Future
Boy, Are Those Europeans A Jumpy Lot.
Andrei Martyanov

The upshot of this is looking more and more like the formation of a formal Sino-Russian military alliance against the West to replace the informal one already in existence. This would involve Russia supplying military technology to China, which has tremendous capacity to ramp up production.

The Moscow Times — Oct. 23, 2020
Russia-China Military Alliance ‘Quite Possible,’ Putin Says

The great reset, part 1 and 2 — Haydar Khan

Neoliberalism 2.0.

In their Reset primer, Klaus Schwab and Thierry Malleret consider what the post–Covid world might look like at various levels of civilization. While the authors frequently inject their vague and utopian hopes and wishes for the post-pandemic world, they acknowledge the possibility that humanity could be headed for a dystopian nightmare. But they consider this bleak scenario only briefly, in all likelihood because it is inconvenient to their case. What specifically do the authors see or hope to see arising as a consequence of the pandemic? What alternatives do they ignore? Let us dig deeper into the Reset text.In their Reset primer, Klaus Schwab and Thierry Malleret consider what the post–Covid world might look like at various levels of civilization. While the authors frequently inject their vague and utopian hopes and wishes for the post-pandemic world, they acknowledge the possibility that humanity could be headed for a dystopian nightmare. But they consider this bleak scenario only briefly, in all likelihood because it is inconvenient to their case. What specifically do the authors see or hope to see arising as a consequence of the pandemic? What alternatives do they ignore? Let us dig deeper into the Reset text.…

Utopianism follows. The ownership class is going to lead the world to utopia?

Then there is MMT.

Further, Schwab and Malleret have a curious stance on Modern Monetary Theory, given they repeatedly advocate increased social assistance, health care, and social safety nets in general. The authors’ swipe is as follows:

The idea is appealing and realizable, but it contains a major issue of social expectations and political control: once citizens realize that money can be found on a “magic money tree,” elected politicians will be under fierce and relentless public pressure to create more and more, which is where the issue of inflation kicks in.

This is a misunderstanding of MMT, as its advocates are not magic money printers but supporters of full employment and price stability....

The Scrum
“The great reset.”

“The great reset, part 2.”
Haydar Khan

Celebrating the Year of the Ox

Happy (Lunar) New Year!

Short video, featuring the Panchen Lama speaking English.

ECNS
11th Panchen Lama extends wishes for Chinese Lunar New Year, Tibetan New Year

China embraces Year of the Ox as absolute poverty eliminated, epidemic under control

Spring Festival gets high-tech boost at Shanghai Disney Resort

Xi extends Spring Festival greetings to all Chinese

RT — Free will hacked: AI can be trained to manipulate human behavior and decisions, according to research in Australia

Artificial Intelligence (AI) researchers in Australia have demonstrated how it is possible to train a system to manipulate human behavior and decision-making, highlighting the double-edged sword that is modern high tech.

Well, the beginning stage anyway. But the study shows that the pathway is promising, so expect it to be picked up and exploited. 

RT
Free will hacked: AI can be trained to manipulate human behavior and decisions, according to research in Australia

See also

It doesn't even take AI to manipulate. That's why narrative control is the name of the game in power relations.

I use different search engines and I notice that they give different results based on their algos. The most used engine sometime excludes significant information that doesn't fit the narrative. This is just a matter of marginalizing or excluding certain sites. And then, there is de-platforming.

CaitlinJohnstone.com
The Real World And The Narrative World
Caitlin Johnstone

Millennials Are "Mad As Hell" — David Robertson

Most interesting in that the author makes extensive use of Noam Chomsky in his critique of current (deteriorating) conditions. 

Yes, this is at at Zero Hedge, which also says something. It's not where one would expect to find Chomsky.

Zero Hedge
Millennials Are "Mad As Hell"
David Robertson via RealInvestmentAdvice.com

Related

Peter Radford identifies utopianism as a major problem in the economics. It is not only a major problem in economics but in the Western world owing to the cultural myth based on progress. 

On one hand utopia is "the Rapture," and on the other, it is liberal internationalism that seeks to transform the world into a liberal (presently neoliberal) utopia, from which proceeds "the white man's burden" as a moral charge laid upon the "exceptional." 

In contrast, the cultural myths of most other traditions are cyclical rather than linear. They do not anticipate a glorious end time as a utopian outcome to be achieved as lasting period of time, but rather they view history as a succession of waves the ocean of time, with the fortunes of individuals and groups rising and falling.

The Radford Free Press
What Do Durer and Soros Have in Common?
Peter Radford

See also

Counterpunch
Neoliberalism and Its Discontents
Rob Urie

Reflections on Lakatos’s “Proofs and Refutations” — Andrew Gelman

Short. There are a couple of comments linking it economics, too, which is the chief reason for providing the link here.

Statistical Modeling, Causal Inference, and Social Science
Reflections on Lakatos’s “Proofs and Refutations”
Andrew Gelman | Professor of Statistics and Political Science and Director of the Applied Statistics Center, Columbia University

The Pentagon Turns on Wall Street — Matt Stoller

The defense industrial base is collapsing. Blame monopolies and Wall Street, writes the DOD. Meanwhile, the Pentagon's Deputy Secretary expresses concern over "extreme consolidation."

Another systems issue involving efficiency over resilience. 

BIG
The Pentagon Turns on Wall Street

Matt Stoller

The Great Vacation: Recessions In DSGE Models (Part II) — Brian Romanchuk

The Great Vacation Effect is what I term one well-known pathological side effect of almost all macro dynamic stochastic general equilibrium (DSGE) models: since employment hours are a voluntary decision in the household optimisation problem the direct implication that unemployment is voluntary as well. As such, The Great Depression can be interpreted as The Great Vacation. Although this silliness is well known, the silliness has nasty side effects for recession analysis. This article continues the discussion of the previous part, turning to the question of why this effect matters even if we suspend disbelief with respect to the interpretation of unemployment....

Bond Economics
The Great Vacation: Recessions In DSGE Models (Part II)
Brian Romanchuk

Is Bitcoin Really Real Money? Ontological and Epistemological Questions — J. Barkley Rosser

Mentions MMT.

If the value of Bitcoin based on the greater fool theory?

Econospeak
Is Bitcoin Really Real Money? Ontological and Epistemological Questions
J. Barkley Rosser | Professor of Economics and Business Administration James Madison University