The Place or Misplace of Bitcoin: More Finance Capital or Liberator From Financial Capital?
To quote political economists Jack Rasmus in framing the place and misplace of bitcoin: “is it a currency going to replace the dollar (Max view) or is it a classical commodity speculative financial bubble, along with emerging bubbles in stocks, emerging market bonds, and other markets today as the global economy enters a late credit cycle (Rasmus view). Is it driven by technies and philosophy nerds, or is it driven by retail buyers in Asia buying on margin. What are the contagion potentials to other financial asset markets (Rasmus explains). Is it an answer to the massive central bank liquidity explosion of recent decades (Max) or is it just another reflection of the flood of currency ($25 trillion) by central banks (Rasmus view)”
About The Author
Bruce
Bruce Lerro has taught for 25 years as an adjunct college professor of psychology at Golden Gate University, Dominican University and Diablo Valley College. He has applied a Vygotskian socio-historical perspective to his four books: From Earth-Spirits to Sky-Gods: the Socio-ecological Origins of Monotheism, Individualism and Hyper-Abstract Reasoning Power in Eden: The Emergence of Gender Hierarchies in the Ancient World Co-Authored with Christopher Chase-Dunn Social Change: Globalization from the Stone Age to the Present and Lucifer's Labyrinth: Individualism, Hyper-Abstract Thinking and the Process of Becoming Civilized He is also a representational artist specializing in pen-and-ink drawings. Bruce is a libertarian communist and lives in Olympia WA.