Hmm, even though 41% think crypto is in a bubble, nobody seems to have good ideas for how to measure bubbliness. In stock bubbles, P/E is a good metric. In debt crises, debt-to-tax-revenue is a good metric. What the heck do you measure here?https://twitter.com/vgr/status/951339822739734528 …
This question has an empirical answer, not an ideological one. Look at well-functioning countries. While it is hard to set incentives for good, error correcting governance the larger the units get, absence of governance tends to be disastrous.
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I agree it's unlikely to work out. But the same empirical argument could have been made at the birth of Enlightenment values and to deflate the unstable, untested political institutions that followed. We might lack the knowledge of how to make it work...but we might create it too
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You are right, most people did not foresee the horrors if the French revolution, but despite the terror it paid off. For many other revolutions, like the Khmer Rouge or the Chinese cultural revolution, not so much. I hope we can have good models and simulations, not ideals first.
End of conversation
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