At last week’s Festival of New Economic Thinking in Edinburgh (supported by the Institute for New Economic Thinking) FT Alphaville participated in a uniquely neutral and academic debate on the future of cryptocurrency featuring Rohan Grey of the Modern Money Network and Perry Mehrling, professor of economics at Barnard College at Columbia University.Mehrling, a highly acclaimed resource on matters monetary, had previously outlined the case — after spending some up-close and personal time with a group of technologists and lawyers debating crypto — that crypto monetary theory stemmed mostly from a relatively retrospective view of value which ignores the role of credit in payments systems.In particular, Mehrling took three key points away from the encounter with respect to what the
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At last week’s Festival of New Economic Thinking in...