Apologize for the comment out of context as it was mentionned above:
The history is always written by the victors and regardless who was the good guy or not
Why just take it all,
and coldly analysis historical facts?
Henri Kissinger's book, World order, is a great example of this approach.
Worth to mention that inflation is more sneaky than it seems. It has been partially mentioned with the degradation of the quality of stuffs or services bought.
Another way to cause inflation is the increasing number of law bited and applied that owners need to comply with. Bein up to date with the legislation,etc is clearly time consuming.
This always comes at yhe owner's cost and can't hardly
pass to their clients ( unless you're Amazon or Apple).
I would recommend to read Thomas Sowel's book and an artcile that blow my mind called "being poor is expensive".
This shocked me as I realised how true were his statements.
Indeed not a problem per say. However it raises some ambiguities over its real intentions. Timing is too perfect for not pointing that out.
But it cannot be blamed blame for working out the system here.
Being quite ignorant upon this topic, but witnessed sneaky behaviour in my company ( emails with with courtesy sentences systematically missing) I wad wondering to which degree this could explain why India is lagging behind China?
For those who don't know, Bloomberg journalist have their bonus linked to their capacity to have their articles impacting th market.
Bloomberg has developed a tool to monitor this.
"This immeasurability is inversely proportional to the tangible, real value created".
Although I understand your view,Financial sector and banks in particular is a very regulated sector which means that significant number of people working there have their job almost entirely related to making sure the company comply with the rules from the different jurisdictions.
From your perspective, they do add no value to the company ( actually there are cost center) but are crucial to ensure company can operate legally.
To add an additional layer of complexity, new rules from different countries, authorities, committees are updated/ amended quite regularly ( last one is the LIBOR demise which will have a huge impact on the market where no clear rules,have acknowledged nor agreed).
So even you would try to quantify those costs ( legal issue with new rules implementation which lead to update the system or create one from scratch while making sure this will comply with internal task,etc...), it is quite difficult to assess what is the optimal allocation the company needs to allocate.
As an illustrative example, it took 2 years to validate some components of the google cloud features (some are still pending) because of all the intetnal rules set out.
More globally, yes there are people adding no value to the company but the can be hardly spot on from top management view.
You're right. And to be more precise, French government at that time pushed its citizen to use the minitel:common example that come at the top of mind: when I was younger minitel was mandatory to register yourself at school or university which explains the quite important development within the country.there were even store offering minitel service.
However this monopoly position were disrupted like any other monopoly by better and more advanced technology.
Although good and tempting idea per say, I believe this still need to have some additional technologies popping up to unlock some restrictions and really make it "mainstream".
As I see it, this is still restricted for young people with the appropriate skillset (techno/writer,etc..).
Really looking forward to seeing this once the average guy ( here I think to the married man with two kids) will be fully benefit from it.
In addition, I would be very interested to see how big countries will react. I know Us citizens pay their home tax regardless where they live but this could be a huge issue for them in the long term.
Agree with you. If I may add, this would be feasible only:
If gov issued is own digital currency, which will mechanically would lead the value of the others digital currency worth near zero..
"Why would I want the government to manage this when we know how to do this well without a government involved? What's the benefit of using FedCoin over using something decentralized with good monetary properties?"
Fed coin would be in fact very useful for the government itself... not sure if you have some understanding of the latest 2008 crisis and how the fed address the issue but there are many shortcomings in the solution proposed that would be easily addressed with a government backed digital currency.
The main one would be , in my opinion, to be able to manage more efficiently money lent to banks.
At that time the banks received a lot of money from the fed with the hope that the this money would be use to increase the loans ( and so the economy).
However, banks were not very keen to follow that inventive and did not lend as expected.
The point in having a digital currency would have let the fed to reward (with a lowest rates) banks playing the game.
This just one example I have on the top of my mind right now, but I'm sure we can find others advantages.