Vitalik Buterin on Crypto Cities: “One interesting trend of the last year has been the growth of interest in local government, and in the idea of local governments that have wider variance and do more experimentation….Another interesting trend of the last year has been the rapid mainstreaming of crypto ideas such as coins, non-fungible tokens and decentralized autonomous organizations (DAOs). So what would happen if we combine the two trends together? Does it make sense to have a city with a coin, an NFT, a DAO, some record-keeping on-chain for anti-corruption, or even all four?”
Weiying Zhang: “Over time, when more entrepreneurial people switch to government jobs, economic growth slows down and even stagnates. Thus, we may conclude that the allocation of entrepreneurial talents between governments and businesses is one of the most important determinants – even if not the only determinant – of developing an economy. The reason some countries are undeveloped is not because they lack entrepreneurial resources; it is because their entrepreneurial talents have been allocated to the government or to other nonproductive sectors.” [via CafeHayek]
Vivan Marwaha: “Indian millennials aspire for stability in a volatile world. The economy wasn’t creating jobs before coronavirus. India had 45-year high unemployment in 2019, and the country was going through multiple periods of jobless growth. Millennials are in a global economy moving towards automation and on precarious financial footing, unable to afford their own homes and incapable of becoming the nation builders who will power the country to become a 10 or 15 trillion-dollar economy. Therefore, the aspirations that drive millennials are the only ones that promise stability in today’s world: government jobs, arranged marriage, and strongman politicians … Indian millennials came of age at a time of great global churn. Huge advances in technology and globalisation have created opportunity for many but have also led to the lack of stability and identity for many more. In this volatile world, Indian millennials began favouring bold leaders who promise big, bold solutions even if they have not created the kind of results that young India requires.”
