Paul Krugman at ChainXChange: ‘I’m the Designated Skeptic Here’
Over the past few years, Nobel Prize-winning economist Paul Krugman has made no secret of the fact that he’s skeptical of the cryptoeconomy and its reigning digital assets. At ChainXChange 2018, Krugman, a headliner at the conference, lived up to his reputation by delivering a talk on his signature crypto-skepticism.
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‘What I Do Know About Is Money,’ Says Krugman
Going into the belly of the beast as he’s done repeatedly on the crypto conference circuit, Nobel Prize-winning economist Paul Krugman once again outlined his argument against cryptocurrencies at this year’s ChainXChange conference in Las Vegas.
“I have no pretense in being an expert in the fundamentals of blockchain,” Krugman began.
But then the economist quickly pivoted to a topic that he is an expert in: money. Accordingly, Krugman made his case for why blockchain tech may not be the end-all-be-all that its supporters claim it is when it comes to its underpinning of crypto.
Before appearing at ChainXChange, Krugman made a series of controversial comments, part of which contended that cryptocurrencies flew in the face of centuries of monetary evolution.
Krugman argued money is evolving toward the cheapest means of exchange and that cryptocurrencies go against that reality.
Agree or disagree, the economist’s point of view is worth considering for anyone who wants to consume the whole spectrum of thought on crypto.
This is part of a series of panels and interviews from ChainXChange coming in the next few days, so stay tuned for more talks and information by subscribing and enabling notifications for the Bitsonline YouTube channel.
Do you think this crypto skeptic makes any fair points? Is there anything he’s wrong or right about? If so, what? Let us know in the comments section below.
Images and video via Ky Primo