We're All Marxists Now - by David Phelps - Three quarks

Could the web3 era of mass hyperfinancialization, anti-regulation, and artificial scarcity actually be... Marxist?

I originally delivered the following as a lecture for Crypto, Culture, and Society, which has published this article as well (here). Sara Campbell and I adapted the lecture into the piece below. “We are all Keynesians now.” — Milton Friedman, 1965 “In one sense, we are all Keynesians now; in another, nobody is any longer a Keynesian.” — Milton Friedman, 1966 There’s a lot of reasons it’s perverse to say that web3 has made us all Marxists, but perhaps none moreso than the fact that web3 OGs really hate Karl Marx. Take, for example, Nick Szabo: scholar, cryptographic guru, and…

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