Joseph Stiglitz, a Nobel-Prize winning economist, says cryptocurrencies should be shut down. He worries that they enable illicit activity by making money transactions less transparent.
Still, he sees the value in digital payments systems and supports electronic use of government-backed currencies like the dollar.
Ive been a great advocate of moving to an electronic payments mechanism. There are a lot of efficiencies. I think we can actually have a better regulated economy if we had all the data in real time, knowing what people are spending, he says.
https://www.cnbc.com/2019/05/02/joseph-stiglitz-we-should-shutdown-the-cryptocurrencies.htmlThere are many jokes about economists not being able to predict anything right, and these jokes are somewhat justified. Being a Nobel laureate in economics doesn't mean understanding the key changes of the world. Or maybe this guy is simply on the side of the banks for whatever reason. Here is how another serious economist was wrong:
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