With the rise of cryptocurrencies in the world market, many Latin American countries are now integrating the digital coins into their national economies. For Venezuelan President Nicolas Maduro, betting on crypto could be the last resort.
by Sebastian Preising
What does a country do if they are suffering from hyperinflation, rampant government corruption, and are bordering on total economic collapse? Some states may choose to adopt another nation’s currency or elect anti-corruption politicians, others are starting to turn towards unconventional solutions. In Venezuela, Bitcoin has already begun steadily replacing the hyper-inflated Bolivar as the nation’s primary transaction currency. In the last week alone, Venezuela reportedly traded over $350 billion Bolivars for Bitcoin, and continues to do so at an increasing rate.
Continue reading “Pegging on The Petro: Venezuela’s Crypto-friendly Strategy to Save a Failing Economy”
Environmental inspectors in northern China have found that seventy percent of the businesses they examined failed to meet environmental standards for controlling air pollution. (Photo by Ella Ivanescu)
by Rachel Chiang
This is a familiar story: China is to blame for climate change, with twenty-seven percent of global greenhouse gases emanating from within its borders. Operating under the desire to generate capital, the “authoritarian” Chinese state condones crippling levels of pollution, to the point at which face masks are daily necessities embraced by residents of Beijing. Any efforts to be environmentally conscious in the United States are futile since China will continue the reckless expansion of its carbon footprint.
Continue reading “China’s Paradox: Economic Stimulation vs. Climate Catastrophe Aversion”
by Tenzin Chomphel
Editor in Chief
The back and forth of the best way to resolve extreme poverty, wealth inequality, and just taxation, may often appear endless to most. While global poverty is lowering at a rate of roughly sixty-eight million people per year, that still leaves an unacceptably high level of poverty around the world. Domestically, the United States experiences an estimated thirty-eight million still in poverty, and inequality has additionally been on the rise, with the bottom ninety percent of households accounting for less than a quarter of the total wealth.
Continue reading “UBI: The Global Antipoverty Experiment”