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Edible Economics by Ha-Joon Chang (Omnibus)
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to an IBM 3705 Communications Controller running the Network Control Program
The New York Times has long had an implacable animus towards all things blockchain, and last week decided to double down by publishing a stupid and dishonest op-ed titled “Crypto is pointless. Not even the White House can fix that.” Authored by a pair of economists from the Biden administration, the piece seized on Bitcoin dipping below $70,000 to make the case that this time the crypto industry is truly cooked, and that blockchain technology is just a glorified database that even Big Tech firms won’t touch. The authors top this off by claiming the previous administration made a good faith effort to work with the crypto industry, but had to take a tougher approach in the wake of the Sam Bankman-Fried scandal.