Eduardo garzón twitter
A JPEG file has been sold for 69.4 million dollars. Some cultural agents have set to work to achieve a more critical, ethical and humanized digital art market.
The following text is an exercise of imagination, it does not have to have any relation with the current reality, but perhaps it can provide a transformative tool in the face of the current degradation of the conventional economic fabric.
The debate on basic income transcends the labor issue to attack some of the main social problems. But is it really feasible? Economist Lluís Torrens explains how income for all can become a reality.
ACS, Acciona, OHL, Ferrovial, FCC, Sacyr and six other companies have been sanctioned by the CNCM, but the fines, should they end up paying them, do not seem to be dissuasive compared to their profits.
Both models -journalism and entertainment, to simplify- should coexist for a while. The question is to see if the latter is gaining ground over the former in terms of transparency, proximity and, in general, rejection of toxicity in the methods used and the message projected.
Reply to eduardo garzón: public austerity is not the same as public funds.
Without a second thought, Garzón replied: «What do you mean there are no funds? Money is a human invention and can be created without limits. The European Central Bank has created trillions of euros in a very short time. But to feed the financial markets, not the real economy; that’s the problem, not that there are no funds. What do you mean there are no funds? Money is a human invention and can be created without limits. The European Central Bank has created trillions of euros in a very short time. But to feed the financial markets, not for the real economy; that is the problem, not that there are no funds. https://t.co/nbsBK82OwB Eduardo Garzón (@edugaresp) December 11, 2020 Faced with the avalanche of criticism and derision from other tweeters, Garzón hastened to qualify his previous message: «That money can be created without limits does not mean that it is good or convenient to do so. Whoever deduces that from the previous tweet has bad reading comprehension or bad intentions. Between nothing and infinity there is a wide margin to create money without generating inflationary tensions».
Bitcoin has 7 serious problems!
There is more and more talk about cryptocurrencies, and especially about the most famous and widely used of them all: bitcoin. This type of currencies, created from the private sector, are essentially characterized by being digital and governed through a complex computer software that connects all its users in such a way that a distributed accounting model is originated for each transaction. The way to issue new currency is carried out through the resolution of a computer algorithm that is becoming more and more complex and in which any user can participate. In the case of bitcoin, the issuance of the currency is limited to a maximum of 21 million units.
However, there are many reasons to believe that this experiment will not have a long life. After all, as Hyman Minsky explained, everyone can create money, the problem lies in its acceptance. And the degree of acceptability of the currency in question depends on the capacity of its issuer to achieve (violently or peacefully) its use. That is to say, the more power the issuer has to get its currency used, the more robust it will be. That is why the most solid and widely used currency is the one issued by the most powerful State on the planet (in military, economic, technological and cultural terms), which is capable of imposing its use even by force: the dollar (1). And that is also why the Venezuelan bolivar is left aside by a large part of the country: because the Venezuelan State is not capable of imposing its generalized use.
Debate with eduardo garzón on the welfare state, the role of money in the economy, and the effects of monetary policy.
Although traditionally, with the supposed belief in the neutrality of money, academics and central bankers have ignored this issue, the distributive effects that monetary policy can have are not new. The French economist, Richard Cantillon – who is considered by many to be the father of political economy – warned as early as 1755 in his well-known «Cantillon effect» of the non-neutrality and distributive effects that the inflow of new money could cause when it is not introduced into the economic system in a homogeneous way among different citizens or social groups.
More recently, with the implementation of unconventional monetary policy measures to deal with the Great Recession and the problem of the 0 nominal interest rate quota, the distributional effects of monetary policy have become relevant and have become one of the main criticisms of these unusually expansive policies, especially on the other side of the Atlantic with the successive rounds of quantitative easing applied by the Federal Reserve.
