Recently, I argued that a central bank cryptocurrency can be a useful tool in the struggle to democratise money. Such a tool is, of course, not enough. The main task in democratising money is first to democratise the central bank – before deploying useful instruments like a central bank cryptocurrency. As many readers (correctly) pointed […]
The history of money has been the history of the struggles to control the payment system and the money tree. Today, with control over both resting in the hands of bankers, central banks’ efforts to boost business end up amplifying inequality while failing to address either economic stagnation or the looming climate disaster. The time […]
Imagine that the Bank of England were to create a free bank account for everyone. Overnight, it would be far better placed to regulate the money supply in the public interest. Moreover, to stay in business, commercial banks would have to seriously raise their game. In times of trouble, such as the current pandemic, the […]
On 15th July, Ben Arc published in Bitcoin Magazine an open letter addressed to me in a bid to convince me that I should re-assess my rejection of Bitcoin as a force for good; as a bulwark for democratising capitalism and paving the ground for socialism. Here is my reply: Dear Ben Arc, Thank you […]
In an exclusive interview with WIRED, Yanis Varoufakis discusses Bitcoin’s bubble, the fantasy of apolitical money and the opportunities for the blockchain to reform Europe. By TOM UPCHURCH Saturday 23 December 2017 When I first met Yanis Varoufakis in the summer of 2014, he was a highly respected but relatively obscure economist. Back then, the price […]
ATHENS – Objects of desire come at a cost. Only bad things, like toxic waste, have a negative price, the equivalent of a fee payable to anyone willing to make them disappear. Does this mean that negative interest rates embody a new perspective on money – that it has gone “bad”? [To read on, click […]
On 22nd April I had the pleasure of addressing Google staff on money, money’s digital future but also on the dangerous fantasy of apolitical money.
A conversation I was privileged to have with John Nash in June 2000 is posted below as a small tribute to a great man. (The conversation was motivated by a talk John Nash Jr gave in Athens in 2000 entitled IDEAL MONEY. The text of the conversation below was published in 2001 as a chapter in […]
An Academic Conference, sponsored by the Department of History of Art, University of California, Berkeley, November 6–7, 2014 Featured Speaker: Yanis Varoufakis Featured Artist: Danae Stratou Contact sferguson at usf.edu and jordanrose at berkeley.edu for more information. (The image is Andy Warhol’s 200 One Dollar Bills, 1962)
Le Monde featured this piece on my research of social economies that emerge in video game communities. Readers may profit from reading the Reason interview on which it was based – and this recent keynote I delivered at the 2014 CFA Institute’s Conference in Seattle. Ce que les jeux vidéo nous apprennent de l’économie
Recently I was at a coffee shop, and to test a metaphysical hunch I asked a few of my fellow caffeinated confreres this question: “What is money?” They all gave answers along the following lines. Money is an arbitrary symbol of exchange value that we just make up in order to facilitate trade and investment. […]
Audio and transcript of the keynote I delivered on 5th May 2014 in Seattle in the context of the CFA Institute’s Annual Conference entitled The Future of Finance.
“A Multiplayer Game Environment Is a Dream Come True for an Economist” Interview by Peter Suderman from the June 2014 issue of REASON magazine – click here for Reason’s web version. Or read on…