Bitcoin Introduction - TreaningHUB

Complete Guide to All r/neoliberal Flair Personalities [J-L]

Please see the first post [A-I] for more info about this post. Unfortunately, post character limit is 40k, so I will have to break this into multiple posts linked here:

[A-I]

[J-L]

[M-P]

[Q-Z]


James Heckman
1944 – Present Born: United States Resides: United States
· Professor in Economics at the University of Chicago. Professor at the Harris Graduate School of Public Policy Studies. Director of the Center for the Economics of Human Development (CEHD). Co-Director of Human Capital and Economic Opportunity (HCEO) Global Working Group. Heckman is also a Professor of Law at ‘the Law School’, a senior research fellow at the American Bar Foundation, and a research associate at the National Bureau of Economic Research.
· In 2000, Heckman shared the Nobel Memorial Prize in Economic Sciences with Daniel McFadden, for his pioneering work in econometrics and microeconomics.
· As of February 2019 (according to RePEc), he is the next most influential economist in the world behind Daniel McFadden.
· Heckman has received numerous awards for his work, including the John Bates Clark Medal of the American Economic Association in 1983, the 2005 and 2007 Dennis Aigner Award for Applied Econometrics from the Journal of Econometrics, the 2005 Jacob Mincer Award for Lifetime Achievement in Labor Economics, the 2005 Ulysses Medal from the University College Dublin, the 2007 Theodore W. Schultz Award from the American Agricultural Economics Association, the Gold Medal of the President of the Italian Republic awarded by the International Scientific Committee of the Pio Manzú Centre in 2008, the Distinguished Contributions to Public Policy for Children Award from the Society for Research in Child Development in 2009, the 2014 Frisch Medal from the Econometric Society, the 2014 Spirit of Erikson Award from the Erikson Institute, and the 2016 Dan David Prize for Combating Poverty from Tel Aviv University.
“The best way to improve the American workforce in the 21st century is to invest in early childhood education, to ensure that even the most disadvantaged children have the opportunity to succeed alongside their more advantaged peers”

Janet Yellen
1945 – Present Born: United States Resides: United States
· Successor to Ben Bernanke, serving as the Chair of the Federal Reserve from 2014 to 2018, and as Vice Chair from 2010 to 2014, following her position as President and Chief Executive Officer of the Federal Reserve Bank of San Francisco. Yellen was also Chair of the White House Council of Economic Advisers under President Bill Clinton.
· Yellen is a Keynesian economist and advocates the use of monetary policy in stabilizing economic activity over the business cycle. She believes in the modern version of the Phillips curve, which originally was an observation about an inverse relationship between unemployment and inflation. In her 2010 nomination hearing for Vice Chair of the Federal Reserve Board of Governors, Yellen said, “The modern version of the Phillips curve model—relating movements in inflation to the degree of slack in the economy—has solid theoretical and empirical support.”
· Yellen is married to George Akerlof, another notable economist, Nobel Memorial Prize in Economic Sciences laureate, professor at Georgetown University and the University of California, Berkeley..
· In 2014, Yellen was named by Forbes as the second most powerful woman in the world. She was the highest ranking American on the list. In October 2015, Bloomberg Markets ranked her first in their annual list of the 50 most influential economists and policymakers. In October 2015, Sovereign Wealth Fund Institute ranked Yellen #1 in the Public Investor 100 list. In October 2010, she received the Adam Smith Award from the National Association for Business Economics (NABE).
“In the long run, outsourcing is another form of trade that benefits the U.S. economy by giving us cheaper ways to do things.”
“I'm just opposed to a pure inflation-only mandate in which the only thing a central bank cares about is inflation and not unemployment.”

Jared Polis
1975 – Present Born: United States Resides: United States
· 43rd governor of Colorado since January 2019. Polis served on the Colorado State Board of Education from 2001 to 2007 and was the United States Representative for Colorado's 2nd congressional district from 2009 to 2019.
· Polis is the first openly gay person and second openly LGBT person (after Kate Brown of Oregon) to be elected governor in the United States.
· In 2000 Polis founded the Jared Polis Foundation, whose mission is to “create opportunities for success by supporting educators, increasing access to technology, and strengthening our community.” Polis has also founded two charter schools.
· Polis was named Outstanding Philanthropist for the 2006 National Philanthropy Day in Colorado. He has received many awards, including the Boulder Daily Camera's 2007 Pacesetter Award in Education; the Kauffman Foundation Community Award; the Denver consul general of Mexico “Ohtli”; the Martin Luther King Jr. Colorado Humanitarian Award; and the Anti-Defamation League's inaugural Boulder Community Builder Award.
“Having alternative currencies is great, right, because, historically, government's had a monopoly on currency. At the end of the day, why should only politicians—either directly or indirectly—control the currency? We can reduce transaction cost, provide an alternative, and—look, I don't know whether it'll be Bitcoin or not—but I think the concept of digital currencies is here to stay, and the fact that a politician would write to try to ban them in their infancy is just the wrong way to go about it. Let the market determine whether there's any value there or not.”

Jeff Bezos
1964 – Present Born: United States Resides: United States
· Best known as the founder, CEO, and president of Amazon, Bezos is an American internet and aerospace entrepreneur, media proprietor, and investor. The first centi-billionaire on the Forbes wealth index, Bezos was named the “richest man in modern history” after his net worth increased to $150 billion in July 2018. In September 2018, Forbes described him as “far richer than anyone else on the planet” as he added $1.8 billion to his net worth when Amazon became the second company in history to reach a market cap of $1 trillion.
· Bezos supported the electoral campaigns of U.S. senators Patty Murray and Maria Cantwell, two Democratic U.S. senators from Washington. He has also supported U.S. representative John Conyers, as well as Patrick Leahy and Spencer Abraham, U.S. senators serving on committees dealing with Internet-related issues.
· Bezos has supported the legalization of same-sex marriage, and in 2012 contributed $2.5 million to a group supporting a yes vote on Washington Referendum 74, which affirmed same-sex marriage.
· After the 2016 presidential election, Bezos was invited to join Donald Trump's Defense Innovation Advisory Board, an advisory council to improve the technology used by the Defense Department. Bezos declined the offer without further comment.
· In September 2018, Business Insider reported that Bezos was the only one of the top five billionaires in the world who had not signed the Giving Pledge, an initiative created by Bill Gates and Warren Buffett that encourage wealthy people to give away their wealth.
“Percentage margins don't matter. What matters always is dollar margins: the actual dollar amount. Companies are valued not on their percentage margins, but on how many dollars they actually make, and a multiple of that.”
“We have the resources to build room for a trillion humans in this solar system, and when we have a trillion humans, we'll have a thousand Einsteins and a thousand Mozarts. It will be a way more interesting place to live.”

Jens Weidmann
1968 – Present Born: Germany Resides: Germany
· German economist and president of the Deutsche Bundesbank. Chairman of the Board of the Bank for International Settlements. From 1997 to 1999, Weidmann worked at the International Monetary Fund. In 2006, he began serving as Head of Division IV (Economic and Financial Policy) in the Federal Chancellery. He was the chief negotiator of the Federal Republic of Germany for both the summits of the G8 and the G20. He was given the 2016 Medal for Extraordinary Merits for Bavaria in a United Europe.
· Weidmann was involved in a series of major decisions in response to the financial crisis in Germany and Europe: preventing the meltdown of the bank Hypo Real Estate, guaranteeing German deposits and implementing a rescue programme for the banking system, piecing together two fiscal-stimulus programmes, and setting up the Greek bail-out package and the European Financial Stability Facility (EFSF).
· In a 2011 speech, Weidmann criticized the errors and “many years of wrong developments” of the European Monetary Union (EMU) peripheral states, particularly the wasted opportunity represented by their “disproportionate investment in private home-building, high government spending or private consumption”. In May, 2012, Weidmann's stance was characterized by US economist and columnist Paul Krugman as amounting to wanting to destroy the Euro. In 2016, Weidmann dismissed deflation in light of the European Central Bank's current stimulus program, pointing out the healthy condition of the German economy and that the euro area is not that bad off.
“I share the concerns regarding monetary policy that is too loose for too long. … As you know I have concerns about granting emergency liquidity on account of the fact that the banks are not doing everything to improve their liquidity situation.”

Jerome Powell
1953 – Present Born: United States Resides: United States
· Current Chair of the Federal Reserve, nominated by Trump. Powell has faced substantial and repeated criticism from Trump after his confirmation. The Senate Banking Committee approved Powell's nomination in a 22–1 vote, with Senator Elizabeth Warren casting the lone dissenting vote.
· Powell briefly served as Under Secretary of the Treasury for Domestic Finance under George H. W. Bush in 1992. He has served as a member of the Federal Reserve Board of Governors since 2012. He is the first Chair of the Federal Reserve since 1987 not to hold a Ph.D. degree in Economics.
· Powell has described the Fed's role as nonpartisan and apolitical. Trump has criticized Powell for not massively lowering federal interest rates and instituting quantitative easing.
· The Bloomberg Intelligence Fed Spectrometer rated Powell as neutral (not dove nor hawk). Powell has been a skeptic of round 3 of quantitative easing, initiated in 2012, although he did vote in favor of implementation.
· Powell stated that higher capital and liquidity requirements and stress tests have made the financial system safer and must be preserved. However, he also stated that the Volcker Rule should be re-written to exclude smaller banks. Powell supports ample amounts of private capital to support housing finance activities.
“The Fed's organization reflects a long-standing desire in American history to ensure that power over our nation's monetary policy and financial system is not concentrated in a few hands, whether in Washington or in high finance or in any single group or constituency.”

John Cochrane
1957 – Present Born: United States Resides: United States
· Senior Fellow of the Hoover Institution at Stanford University and economist, specializing in financial economics and macroeconomics.
· The central idea of Cochrane's research is that macroeconomics and finance should be linked, and a comprehensive theory needs to explain both 1.) how, given the observed prices and financial returns, households and firms decide on consumption, investment, and financing; and 2.) how, in equilibrium, prices and financial returns are determined by households and firms decisions.
· Cochrane is the author of ‘Asset Pricing,’ a widely used textbook in graduate courses on asset pricing. According to his own words, the organizing principle of the book is that everything can be traced back to specializations of a single equation: the basic pricing equation. Cochrane received the TIAA-CREF Institute Paul A. Samuelson Award for this book.
“Regulators and politicians aren’t nitwits. The libertarian argument that regulation is so dumb — which it surely is — misses the point that it is enacted by really smart people. The fact that the regulatory state is an ideal tool for the entrenchment of political power was surely not missed by its architects.”

John Keynes (John Maynard Keynes, 1st Baron Keynes)
1883 – 1946 Born: England Died: England
· British economist, whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments. Originally trained in mathematics, he built on and greatly refined earlier work on the causes of business cycles, and was one of the most influential economists of the 20th century. Widely considered the founder of modern macroeconomics, his ideas are the basis for the school of thought known as Keynesian economics, and its various offshoots. Keynes was a lifelong member of the Liberal Party, which until the 1920s had been one of the two main political parties in the United Kingdom.
· During the 1930s Great Depression, Keynes challenged the ideas of neoclassical economics that held that free markets would, in the short to medium term, automatically provide full employment, as long as workers were flexible in their wage demands. He argued that aggregate demand (total spending in the economy) determined the overall level of economic activity, and that inadequate aggregate demand could lead to prolonged periods of high unemployment. Keynes advocated the use of fiscal and monetary policies to mitigate the adverse effects of economic recessions and depressions.
· Keynes's influence started to wane in the 1970s, his ideas challenged by those who disputed the ability of government to favorably regulate the business cycle with fiscal policy. However, the advent of the global financial crisis of 2007–2008 sparked a resurgence in Keynesian thought. Keynesian economics provided the theoretical underpinning for economic policies undertaken in response to the crisis by President Barack Obama of the United States, Prime Minister Gordon Brown of the United Kingdom, and other heads of governments.
· Keynes was vice-chairman of the Marie Stopes Society which provided birth control education and campaigned against job discrimination against women and unequal pay. He was an outspoken critic of laws against homosexuality. Keynes thought that the pursuit of money for its own sake was a pathological condition, and that the proper aim of work is to provide leisure. He wanted shorter working hours and longer holidays for all. Keynes was ultimately a successful investor, building up a private fortune.
“How can I accept the Communist doctrine, which sets up as its bible, above and beyond criticism, an obsolete textbook which I know not only to be scientifically erroneous but without interest or application to the modern world? How can I adopt a creed which, preferring the mud to the fish, exalts the boorish proletariat above the bourgeoisie and the intelligentsia, who with all their faults, are the quality of life and surely carry the seeds of all human achievement? Even if we need a religion, how can we find it in the turbid rubbish of the red bookshop? It is hard for an educated, decent, intelligent son of Western Europe to find his ideals here, unless he has first suffered some strange and horrid process of conversion which has changed all his values.”

John Locke
1632 – 1704 Born: England Died: England
· Known as the “Father of Liberalism,” Locke was an English philosopher and physician, widely regarded as one of the most influential of Enlightenment thinkers. His work greatly affected the development of epistemology and political philosophy. His writings influenced Voltaire and Jean-Jacques Rousseau, many Scottish Enlightenment thinkers, as well as the American revolutionaries. His contributions to classical republicanism and liberal theory are reflected in the United States Declaration of Independence.
· Locke's political theory was founded on social contract theory. Social contract arguments typically posit that individuals have consented, either explicitly or tacitly, to surrender some of their freedoms and submit to the authority (of the ruler, or to the decision of a majority) in exchange for protection of their remaining rights or maintenance of the social order.
· Locke advocated for governmental separation of powers and believed that revolution is not only a right but an obligation in some circumstances. Locke was vehemently opposed to slavery, calling it “vile and miserable … directly opposite to the generous Temper and Courage of our Nation.”
· Locke uses the word “property” in both broad and narrow senses. In a broad sense, it covers a wide range of human interests and aspirations; more narrowly, it refers to material goods. He argues that property is a natural right and it is derived from labour aand that the individual ownership of goods and property is justified by the labour exerted to produce those goods
· According to Locke, unused property is wasteful and an offence against nature, but, with the introduction of “durable” goods, men could exchange their excessive perishable goods for goods that would last longer and thus not offend the natural law. In his view, the introduction of money marks the culmination of this process, making possible the unlimited accumulation of property without causing waste through spoilage.
“The power of the legislative, being derived from the people by a positive voluntary grant and institution, can be no other than what that positive grant conveyed, which being only to make laws, and not to make legislators, the legislative can have no power to transfer their authority of making laws, and place it in other hands.”
“No man in civil society can be exempted from the laws of it: for if any man may do what he thinks fit, and there be no appeal on earth, for redress or security against any harm he shall do; I ask, whether he be not perfectly still in the state of nature, and so can be no part or member of that civil society; unless any one will say, the state of nature and civil society are one and the same thing, which I have never yet found any one so great a patron of anarchy as to affirm.”

John Mill (John Stuart Mill a.k.a. J. S. Mill)
1806 – 1873 Born: England Died: France
· John Stuart Mill was arguably the most influential English speaking philosopher of the nineteenth century. He was a naturalist, a utilitarian, and a liberal, whose work explores the consequences of a thoroughgoing empiricist outlook. In doing so, he sought to combine the best of eighteenth-century Enlightenment thinking with newly emerging currents of nineteenth-century Romantic and historical philosophy. His most important works include System of Logic (1843), On Liberty (1859), Utilitarianism (1861) and An Examination of Sir William Hamilton’s Philosophy (1865).
· Mill's conception of liberty justified the freedom of the individual in opposition to unlimited state and social control. A member of the Liberal Party and author of the early feminist work The Subjection of Women (in which he also condemned slavery), he was also the second Member of Parliament to call for women's suffrage after Henry Hunt in 1832.
· Mill, an employee for the British East India Company from 1823 to 1858, argued in support of what he called a “benevolent despotism” with regard to the colonies. Mill argued that “To suppose that the same international customs, and the same rules of international morality, can obtain between one civilized nation and another, and between civilized nations and barbarians, is a grave error. ... To characterize any conduct whatever towards a barbarous people as a violation of the law of nations, only shows that he who so speaks has never considered the subject.”
· John Stuart Mill believed in the philosophy of Utilitarianism, which he described as the principle that holds “that actions are right in the proportion as they tend to promote happiness [intended pleasure, and the absence of pain], wrong as they tend to produce the reverse of happiness [pain, and the privation of pleasure].” Mill asserts that even when we value virtues for selfish reasons we are in fact cherishing them as a part of our happiness.
· Mill's early economic philosophy was one of free markets. However, he accepted interventions in the economy, such as a tax on alcohol, if there were sufficient utilitarian grounds. Mill originally believed that “equality of taxation” meant “equality of sacrifice” and that progressive taxation penalized those who worked harder and saved more. Given an equal tax rate regardless of income, Mill agreed that inheritance should be taxed.
· His main objection of socialism was on that of what he saw its destruction of competition. According to Mill, a socialist society would only be attainable through the provision of basic education for all, promoting economic democracy instead of capitalism, in the manner of substituting capitalist businesses with worker cooperatives.
· Mill's major work on political democracy defends two fundamental principles at slight odds with each other: extensive participation by citizens and enlightened competence of rulers. He believed that the incompetence of the masses could eventually be overcome if they were given a chance to take part in politics, especially at the local level.
· Mill is one of the few political philosophers ever to serve in government as an elected official. In his three years in Parliament, he was more willing to compromise than the “radical” principles expressed in his writing would lead one to expect.
“He who knows only his own side of the case knows little of that. His reasons may be good, and no one may have been able to refute them. But if he is equally unable to refute the reasons on the opposite side, if he does not so much as know what they are, he has no ground for preferring either opinion... Nor is it enough that he should hear the opinions of adversaries from his own teachers, presented as they state them, and accompanied by what they offer as refutations. He must be able to hear them from persons who actually believe them...he must know them in their most plausible and persuasive form.”
“The only freedom which deserves the name is that of pursuing our own good in our own way, so long as we do not attempt to deprive others of theirs, or impede their efforts to obtain it. Each is the proper guardian of his own health, whether bodily, or mental or spiritual. Mankind are greater gainers by suffering each other to live as seems good to themselves, than by compelling each to live as seems good to the rest.”

John Rawls
1921 – 2002 Born: United States Died: United States
· Liberal American moral and political philosopher who received both the Schock Prize for Logic and Philosophy and the National Humanities Medal in 1999, the latter presented by President Bill Clinton, who acclaimed Rawls for having “helped a whole generation of learned Americans revive their faith in democracy itself.” He is frequently cited by the courts of law in the United States and Canada.
· Rawls's most discussed work is his theory of a just liberal society, called justice as fairness. Rawls first wrote about this theory in his book A Theory of Justice. Rawls spoke much about the desire for a well-ordered society; a society of free and equal persons cooperating on fair terms of social cooperation.
· Rawls’s most important principle (the Liberty Principal) states that every individual has an equal right to basic liberties. Rawls believes that “personal property” constitutes a basic liberty, but an absolute right to unlimited private property is not.
· Rawls's argument for his principles of social justice uses a thought experiment called the “original position”, in which people select what kind of society they would choose to live under if they did not know which social position they would personally occupy.
“Justice is the first virtue of social institutions, as truth is of systems of thought. A theory however elegant and economical must be rejected or revised if it is untrue; likewise laws and institutions no matter how efficient and well-arranged must be reformed or abolished if they are unjust. Each person possesses an inviolability founded on justice that even the welfare of society as a whole cannot override. For this reason justice denies that the loss of freedom for some is made right by a greater good shared by others. It does not allow that the sacrifices imposed on a few are outweighed by the larger sum of advantages enjoyed by many. Therefore in a just society the liberties of equal citizenship are taken as settled; the rights secured by justice are not subject to political bargaining or to the calculus of social interests.”

Joseph Nye
1937 – Present Born: United States Resides: United States
· American political scientist and co-founder of the international relations theory of neoliberalism (a theory concerned first and foremost with absolute gains rather than relative gains to other states), developed in the 1977 book Power and Interdependence. He is noted for his notion of “smart power” (“the ability to combine hard and soft power into a successful strategy”), which became a popular phrase with the Clinton and Obama Administrations.
· Secretary of State John Kerry appointed Nye to the Foreign Affairs Policy Board in 2014. In 2014, Nye was awarded the Order of the Rising Sun, Gold and Silver Star in recognition of his “contribution to the development of studies on Japan-U.S. security and to the promotion of the mutual understanding between Japan and the United States.”
· From 1977 to 1979, Nye was Deputy to the Undersecretary of State for Security Assistance, Science, and Technology and chaired the National Security Council Group on Nonproliferation of Nuclear Weapons. In recognition of his service, he was awarded the State Department's Distinguished Honor Award in 1979. In 1993 and 1994, he was Chairman of the National Intelligence Council, which coordinates intelligence estimates for the President, and was awarded the Intelligence Community's Distinguished Service Medal. In the Clinton Administration from 1994 to 1995, Nye served as Assistant Secretary of Defense for International Security Affairs, and was awarded the Department's Distinguished Service Medal with Oak Leaf Cluster. Nye was considered by many to be the preferred choice for National Security Advisor in the 2004 presidential campaign of John Kerry.
· Nye has been a member of the Harvard faculty since 1964. He is a fellow of the American Academy of Arts & Sciences and a foreign fellow of The British Academy. Nye is also a member of the American Academy of Diplomacy. The 2011 TRIP survey of over 1700 international relations scholars ranks Joe Nye as the sixth most influential scholar in the field of international relations in the past twenty years. He was also ranked as most influential in American foreign policy. In 2011, Foreign Policy magazine named him to its list of top global thinkers. In September 2014, Foreign Policy reported that the international relations scholars and policymakers both ranked Nye as one of the most influential scholars.
“When you can get others to admire your ideals and to want what you want, you do not have to spend as much on sticks and carrots to move them in your direction. Seduction is always more effective than coercion, and many values like democracy, human rights, and individual opportunities are deeply seductive.”

Karl Popper
1902 – 1994 Born: Austria-Hungary Died: England
· Karl Popper is generally regarded as one of the greatest philosophers of science of the 20th century. He was a self-professed critical-rationalist, a dedicated opponent of all forms of scepticism, conventionalism, and relativism in science and in human affairs generally and a committed advocate and staunch defender of the ‘Open Society’.
· In ‘The Open Society and Its Enemies’ and ‘The Poverty of Historicism’, Popper developed a critique of historicism and a defense of the “Open Society”. Popper considered historicism to be the theory that history develops inexorably and necessarily according to knowable general laws towards a determinate end. He argued that this view is the principal theoretical presupposition underpinning most forms of authoritarianism and totalitarianism. He argued that historicism is founded upon mistaken assumptions regarding the nature of scientific law and prediction. Since the growth of human knowledge is a causal factor in the evolution of human history, and since “no society can predict, scientifically, its own future states of knowledge”, it follows, he argued, that there can be no predictive science of human history. For Popper, metaphysical and historical indeterminism go hand in hand.
· Popper is known for his vigorous defense of liberal democracy and the principles of social criticism that he believed made a flourishing open society possible. His political philosophy embraced ideas from major democratic political ideologies, including socialism/social democracy, libertarianism/classical liberalism and conservatism, and attempted to reconcile them.
“Unlimited tolerance must lead to the disappearance of tolerance. If we extend unlimited tolerance even to those who are intolerant, if we are not prepared to defend a tolerant society against the onslaught of the intolerant, then the tolerant will be destroyed, and tolerance with them. In this formulation, I do not imply, for instance, that we should always suppress the utterance of intolerant philosophies; as long as we can counter them by rational argument and keep them in check by public opinion, suppression would certainly be most unwise. But we should claim the right to suppress them if necessary even by force; for it may easily turn out that they are not prepared to meet us on the level of rational argument, but begin by denouncing all argument; they may forbid their followers to listen to rational argument, because it is deceptive, and teach them to answer arguments by the use of their fists or pistols. We should therefore claim, in the name of tolerance, the right not to tolerate the intolerant. We should claim that any movement preaching intolerance places itself outside the law, and we should consider incitement to intolerance and persecution as criminal, in the same way as we should consider incitement to murder, or to kidnapping, or to the revival of the slave trade, as criminal.”

Lawrence Summers
1954 – Present Born: United States Resides: United States
· American economist, former Vice President of Development Economics and Chief Economist of the World Bank, senior U.S. Treasury Department official throughout President Clinton's administration, Treasury Secretary 1999–2001, and former director of the National Economic Council for President Obama (2009–2010). Summers served as the 27th President of Harvard University from 2001 to 2006. Current professor and director of the Mossavar-Rahmani Center for Business and Government at Harvard's Kennedy School of Government.
· As a researcher, Summers has made important contributions in many areas of economics, primarily public finance, labor economics, financial economics, and macroeconomics. Summers has also worked in international economics, economic demography, economic history and development economics.[ He received the John Bates Clark Medal in 1993 from the American Economic Association. In 1987, he was the first social scientist to win the Alan T. Waterman Award from the National Science Foundation. Summers is also a member of the National Academy of Sciences.
· In 1983, at age 28, Summers became one of the youngest tenured professors in Harvard's history. In 2006, Summers resigned as Harvard's president in the wake of a no-confidence vote by Harvard faculty. Summers viewed his beliefs on why science and engineering had an under-representation of women to be a large part in the vote, saying, “There is a great deal of absurd political correctness. Now, I'm somebody who believes very strongly in diversity, who resists racism in all of its many incarnations, who thinks that there is a great deal that's unjust in American society that needs to be combated, but it seems to be that there is a kind of creeping totalitarianism in terms of what kind of ideas are acceptable and are debatable on college campuses.”
· As the World Bank's Vice President of Development Economics and Chief Economist, Summers played a role in designing strategies to aid developing countries, worked on the bank's loan committee, guided the bank's research and statistics operations, and guided external training programs. The World Bank's official site reports that Summer's research included an “influential” report that demonstrated a very high return from investments in educating girls in developing nations. According to The Economist, Summers was “often at the centre of heated debates” about economic policy, to an extent exceptional for the history of the World Bank in recent decades.
· In 1999 Summers endorsed the Gramm–Leach–Bliley Act which removed the separation between investment and commercial banks. In February 2009, Summers quoted John Maynard Keynes, saying “When circumstances change, I change my opinion”, reflecting both on the failures of Wall Street deregulation and his new leadership role in the government bailout.
submitted by learnactreform to neoliberal [link] [comments]

Elaborating on Datadash's 50k BTC Prediction: Why We Endorse the Call

As originally published via CoinLive
I am the Co-Founder at CoinLive. Prior to founding Coinlive.io, my area of expertise was inter-market analysis. I came across Datadash 50k BTC prediction this week, and I must take my hats off to what I believe is an excellent interpretation of the inter-connectivity of various markets.
At your own convenience, you can find a sample of Intermarket analysis I've written in the past before immersing myself into cryptos full-time.
Gold inter-market: 'Out of sync' with VIX, takes lead from USD/JPY
USD/JPY inter-market: Watch divergence US-Japan yield spread
EUUSD intermarket: US yields collapse amid supply environment
Inter-market analysis: Risk back in vogue, but for how long?
USD/JPY intermarket: Bulls need higher adj in 10-y US-JP spread
The purpose of this article is to dive deeper into the factors Datadash presents in his video and how they can help us draw certain conclusions about the potential flows of capital into crypto markets and the need that will exist for a BTC ETF.
Before I do so, as a brief explainer, let's touch on what exactly Intermarket analysis refers to:
Intermarket analysis is the global interconnectivity between equities, bonds, currencies, commodities, and any other asset class; Global markets are an ever-evolving discounting and constant valuation mechanism and by studying their interconnectivity, we are much better positioned to explain and elaborate on why certain moves occur, future directions and gain insights on potential misalignments that the market may not have picked up on yet or might be ignoring/manipulating.
While such interconnectivity has proven to be quite limiting when it comes to the value one can extract from analyzing traditional financial assets and the crypto market, Datadash has eloquently been able to build a hypothesis, which as an Intermarket analyst, I consider very valid, and that matches up my own views. Nicolas Merten constructs a scenario which leads him to believe that a Bitcoin ETF is coming. Let's explore this hypothesis.
I will attempt to summarize and provide further clarity on why the current events in traditional asset classes, as described by Datadash, will inevitably result in a Bitcoin ETF. Make no mistake, Datadash's call for Bitcoin at 50k by the end of 2018 will be well justified once a BTC ETF is approved. While the timing is the most challenging part t get right, the end result won't vary.
If one wishes to learn more about my personal views on why a BTC ETF is such a big deal, I encourage you to read my article from late March this year.
Don't Be Misled by Low Liquidity/Volume - Fundamentals Never Stronger
The first point Nicholas Merten makes is that despite depressed volume levels, the fundamentals are very sound. That, I must say, is a point I couldn't agree more. In fact, I recently wrote an article titled The Paradox: Bitcoin Keeps Selling as Intrinsic Value Set to Explode where I state "the latest developments in Bitcoin's technology makes it paradoxically an ever increasingly interesting investment proposition the cheaper it gets."
However, no article better defines where we stand in terms of fundamentals than the one I wrote back on May 15th titled Find Out Why Institutions Will Flood the Bitcoin Market, where I look at the ever-growing list of evidence that shows why a new type of investors, the institutional ones, looks set to enter the market in mass.
Nicholas believes that based on the supply of Bitcoin, the market capitalization can reach about $800b. He makes a case that with the fundamentals in bitcoin much stronger, it wouldn't be that hard to envision the market cap more than double from its most recent all-time high of more than $300b.
Interest Rates Set to Rise Further
First of all, one of the most immediate implications of higher rates is the increased difficulty to bear the costs by borrowers, which leads Nicholas to believe that banks the likes of Deutsche Bank will face a tough environment going forward. The CEO of the giant German lender has actually warned that second-quarter results would reflect a “revenue environment [that] remains challenging."
Nicholas refers to the historical chart of Eurodollar LIBOR rates as illustrated below to strengthen the case that interest rates are set to follow an upward trajectory in the years to come as Central Banks continue to normalize monetary policies after a decade since the global financial crisis. I'd say, that is a correct assumption, although one must take into account the Italian crisis to be aware that a delay in higher European rates is a real possibility now.
![](https://coinlive.io/ckeditor_assets/pictures/947/content_2018-05-30_1100.png)
Let's look at the following combinations: Fed Fund Rate Contract (green), German 2-year bond yields (black) and Italy's 10-year bond yield (blue) to help us clarify what's the outlook for interest rates both in Europe and the United States in the foreseeable future. The chart suggests that while the Federal Reserve remains on track to keep increasing interest rates at a gradual pace, there has been a sudden change in the outlook for European rates in the short-end of the curve.
While the European Central Bank is no longer endorsing proactive policies as part of its long-standing QE narrative, President Mario Draghi is still not ready to communicate an exit strategy to its unconventional stimulus program due to protectionism threats in the euro-area, with Italy the latest nightmare episode.
Until such major step is taken in the form of a formal QE conclusion, interest rates in the European Union will remain depressed; the latest drastic spike in Italy's benchmark bond yield to default levels is pre-emptive of lower rates for longer, an environment that on one hand may benefit the likes of Deutsche Bank on lower borrowing costs, but on the other hand, sets in motion a bigger headache as risk aversion is set to dominate financial markets, which leads to worse financial consequences such as loss of confidence and hence in equity valuations.
![](https://coinlive.io/ckeditor_assets/pictures/948/content_2018-05-30_1113.png)
Deutsche Bank - End of the Road?
Nicholas argues that as part of the re-restructuring process in Deutsche Bank, they will be facing a much more challenging environment as lending becomes more difficult on higher interest rates. At CoinLive, we still believe this to be a logical scenario to expect, even if a delay happens as the ECB tries to deal with the Italian political crisis which once again raises the question of whether or not Italy should be part of the EU. Reference to an article by Zerohedge is given, where it states:
"One day after the WSJ reported that the biggest German bank is set to "decimate" its workforce, firing 10,000 workers or one in ten, this morning Deutsche Bank confirmed plans to cut thousands of jobs as part of new CEO Christian Sewing's restructuring and cost-cutting effort. The German bank said its headcount would fall “well below” 90,000, from just over 97,000. But the biggest gut punch to employee morale is that the bank would reduce headcount in its equities sales and trading business by about 25%."
There is an undeniably ongoing phenomenon of a migration in job positions from traditional financial markets into blockchain, which as we have reported in the past, it appears to be a logical and rational step to be taken, especially in light of the new revenue streams the blockchain sector has to offer. Proof of that is the fact that Binance, a crypto exchange with around 200 employees and less than 1 year of operations has overcome Deutsche Bank, in total profits. What this communicates is that the opportunities to grow an institution’s revenue stream are formidable once they decide to integrate cryptocurrencies into their business models.
One can find an illustration of Deutsche Bank's free-fall in prices below:
![](https://coinlive.io/ckeditor_assets/pictures/946/content_2018-05-30_1052.png)
Nicholas takes notes of a chart in which one can clearly notice a worrying trend for Italian debt. "Just about every other major investor type has become a net seller (to the ECB) or a non-buyer of BTPs over the last couple of years. Said differently, for well over a year, the only marginal buyer of Italian bonds has been the ECB!", the team of Economists at Citi explained. One can find the article via ZeroHedge here.
![](https://coinlive.io/ckeditor_assets/pictures/953/content_2018-05-30_1451.png)
Equities & Housing to Suffer the Consequences
Nicholas notes that trillions of dollars need to exit these artificially-inflated equity markets. He even mentions a legendary investor such as George Soros, who has recently warned that the world could be on the brink of another devastating financial crisis, on lingering debt concerns in Europe and a strengthening US dollar, as a destabilizing factor for both the US's emerging- and developed-market rivals.
Ray Dalio, another legend in the investing world and Founder of Bridgewater Associates, the world’s largest hedge fund, "has ramped up its short positions in European equities in recent weeks, bringing their total value to an estimated $22 billion", MarketWatch reports.
Nicholas extracts a chart by John Del Vecchio at lmtr.com where it illustrates the ratio between stocks and commodities at the lowest in over 50 years.
As the author states:
"I like to look for extremes in the markets. Extremes often pinpoint areas where returns can be higher and risk lower than in other time periods. Take the relationship between commodities and stocks. The chart below shows that commodities haven not been cheaper than stocks in a generation. We often hear this time it is different” to justify what’s going on in the world. But, one thing that never changes is human nature. People push markets to extremes. Then they revert. "
![](https://coinlive.io/ckeditor_assets/pictures/954/content_2018-05-30_1459.png)
Bitcoin ETF the Holy Grail for a Cyclical Multi-Year Bull Run
It is precisely from this last chart above that leads Nicholas to believe we are on the verge of a resurgence in commodity prices. Not only that but amid the need of all this capital to exit stocks and to a certain extent risky bonds (Italian), a new commodity-based digital currency ETF based on Bitcoin will emerge in 2018.
The author of Datadash highlights the consideration to launching a Bitcoin ETF by the SEC. At CoinLive, our reporting of the subject can be found below:
"Back in April, it was reported that the US Securities and Exchange Commission (SEC) has put back on the table two Bitcoin ETF proposals, according to public documents. The agency is under formal proceedings to approve a rule change that would allow NYSE Arca to list two exchange-traded funds (ETFs) proposed by fund provider ProShares. The introduction of an ETF would make Bitcoin available to a much wider share of market participants, with the ability to directly buy the asset at the click of a button, essentially simplifying the current complexity that involves having to deal with all the cumbersome steps currently in place."
Nicholas refers to the support the Bitcoin ETF has been receiving by the Cboe president Chris Concannon, which is a major positive development. CoinLive reported on the story back in late March, noting that "a Bitcoin ETF will without a doubt open the floodgates to an enormous tsunami of fresh capital entering the space, which based on the latest hints by Concannon, the willingness to keep pushing for it remains unabated as the evolution of digital assets keeps its course."
It has been for quite some time CoinLive's conviction, now supported by no other than Nicholas Merten from Datadash, that over the next 6 months, markets will start factoring in the event of the year, that is, the approval of a Bitcoin ETF that will serve as a alternative vehicle to accommodate the massive flows of capital leaving some of the traditional asset classes. As Nicholas suggests, the SEC will have little choice but to provide alternative investments.
Bitcoin as a Hedge to Lower Portfolios' Volatility
Last but not least, crypto assets such as Bitcoin and the likes have an almost non-existent correlation to other traditional assets such as stocks, bonds, and commodities, which makes for a very attractive and broadly-applicable diversification strategy for the professional money as it reduces one’s portfolio volatility. The moment a Bitcoin ETF is confirmed, expect the non-correlation element of Bitcoin as a major driving force to attract further capital.
Anyone Can Be Wrong Datadash, But You Won't be Wrong Alone
Having analyzed the hypothesis by Nicholas Merten, at CoinLive we believe that the conclusion reached, that is, the creation of a Bitcoin ETF that will provide shelter to a tsunami of capital motivated by the diversification and store of value appeal of Bitcoin, is the next logical step. As per the timing of it, we also anticipate, as Nicholas notes, that it will most likely be subject to the price action in traditional assets. Should equities and credit markets hold steady, it may result in a potential delay, whereas disruption in the capital market may see the need for a BTC ETF accelerate. Either scenario, we will conclude with a quote we wrote back in March.
"It appears as though an ETF on Bitcoin is moving from a state of "If" to "When."
Datadash is certainly not alone on his 50k call. BitMEX CEO Arthur Hayes appears to think along the same line.
On behalf of the CoinLive Team, we want to thank Nicholas Merten at Datadash for such enlightening insights.
submitted by Ivo333 to BitcoinMarkets [link] [comments]

Bitcoin Mining Industry Contracting: Bitmain Firing More Than Half Its Workforce; GMO Internet Shuts Down Mining Division

Bitcoin Mining Industry Contracting: Bitmain Firing More Than Half Its Workforce; GMO Internet Shuts Down Mining Division

https://preview.redd.it/shaxz99r3v621.png?width=690&format=png&auto=webp&s=7b45303f9a9cb5901f9d7cc33b09eddd0525b853
https://cryptoiq.co/bitcoin-mining-industry-contracting-bitmain-firing-more-than-half-its-workforce-gmo-internet-shuts-down-mining-division/
The Bitcoin mining industry is seeing blood in the streets because the Bitcoin mining hash rate has declined from peaks near 60 EH/s to around 40 EH/s today, driven by Bitcoin’s decline from $20,000 to less than $4,000 in a year.
This means 20 EH/s of Bitcoin mining equipment has been taken offline due to lack of profitability. Bitcoin mining rig manufacturers have large quantities of rigs they cannot sell, bringing the mining arms race of constantly improving technology to an abrupt halt.
Bitmain, the biggest Bitcoin mining rig manufacturer, has gone from planning an initial public offering (IPO) on the Hong Kong Stock Exchange to slashing most of its workforce. GMO Internet, an up and coming manufacturer that developed 7 nm rigs faster than anyone else, has put up the white flag of surrender and left the mining industry.
It is clear that the IPO for Bitmain will not be happening. This company is struggling for survival. Essentially, Bitmain is laying off all employees who are not essential and getting rid of auxiliary divisions.
Entire departments will be closed. A Bitmain staff member said ““It’s affirmative. The layoff will start next week and involves more than 50 percent of the entire Bitmain’s headcount” while another staff member said, “Some departments have to be let go entirely.”
It is likely that the blockchain and artificial intelligence (AI) departments at Bitmain will be most severely impacted since Bitmain’s true business is manufacturing mining rigs, and anything which is not yielding profits will be the first to go.
Meanwhile, up and coming mining rig manufacturer GMO Internet is completely getting rid of its mining manufacturing business. It will be reporting an “extraordinary” total loss of JPY 35.5 billion ($319 million) from the mining business.
GMO Internet will no longer manufacture, develop, or sell mining rigs. It will continue an in-house mining operation with its remaining rigs, and this might be profitable even in bad market conditions since they have highly efficient 7 nm rigs.
The fact that GMO Internet has a surplus of 7 nm rigs and cannot even sell them shows how bad the mining industry has gotten. Miners cannot afford to buy any more rigs, no matter how cutting edge the rigs are, since the entire mining business model has been rekt.
The only way for Bitcoin mining to work, even during favorable mining conditions, is to run rigs 24/7 without interruption. Then miners buy more rigs from their slim profit margin. More than 30 percent of all existing rigs being turned off due to lack of profitability indicates most mining businesses are taking big losses rather than profits.
Simply, miners will not be buying new rigs until the 20 EH/s of rigs that have been turned off can be turned back on, and Bitcoin’s price will have to double to make that happen.
submitted by turtlecane to CryptoCurrency [link] [comments]

The Evolution of Cryptocurrency Roles

Hello! Iam Daniil Kapran, a sales manager at Platinum. Our team of professionals offers a complete set of services for your successful ICO or STO. We are self-confident because of our huge experience in ICO and STO advertising and promotion. Besides, there are more than 700 successful companies’ promotions behind us. See for yourself: Platinum.fund We also launched the best online institution in teaching crypto economics! You will know everything about best security tokens in 2019, learn all about ICO and STO promotion and become real professionals after finishing our courses! How the original roles in the blockchain industry have evolved up to this day? Read this article to get the answer!
Cryptocurrency Miners
When people first hear about mining cryptocurrency it is natural to think of big drills and rock crushers. Of course it is different than that.
What happens in cryptocurrency mining?
Bitcoins exist in a protocol design, but the bitcoins need to be brought to light, or brought into being through a series of mathematical computations. This is similar to gold existing underground, but if we want it we need to explore for it, find it, and then dig it out. Another similarity to gold and gold mining is the scarcity of bitcoin. There are only 21 million Bitcoins which can possibly exist.
Why would someone want to mine cryptocurrencies?
The simple answer is for a reward, which is paid in the form of Bitcoins. A miner must run what is called a “node” in order to do the mining and earn the reward. A node is a powerful computer that runs the bitcoin software and helps keep the blockchain network functioning by participating in the relay of information. Anyone is able to run a node. A miner simply needs to download the free software and leave a certain port open. Mining nodes solve complex mathematical functions and add the correct answer to the block. Miners are rewarded for their ability to solve and complete blocks as well as verify transactions on the network. It is far more complex than this, but this is the general principle. “ “Cryptocurrency Miners §2
How has the role of miners changed?
Mining bitcoin is an extremely energy-intensive process. In the very beginning miners would work to solve cryptographic puzzles for blocks, and to confirm transactions on their own. Bitcoin was not very popular, and most people simply mined for leisure or intellectual interest. No one really knew how much bitcoin would appreciate in the future.
Maybe you remember the story about James Howells, who mined 7,500 bitcoins and forgot about them on his hard disk. The hard disk ended up in the trash can and later into a landfill in Newport, under tons of garbage. Other home miners did not care much about how they stored their BTC before the coin gained such massive popularity and value.
What caused this change?
As more and more bitcoins have been mined, the computations have gotten harder and harder, meaning more and more energy is required to perform the computations. This has led to the emergence of pool mining and the decline of home mining. The popularity of bitcoin has soared, and the difficulty of the problems needing to be solved has increased dramatically.
What does the future look like for miners?
Home mining is likely to remain a thing of the past. Larger commercial scale mining setups are likely to become more common place as the industry consolidates further. Tremendous scale is required to endure the volatility of the cryptocurrency industry. Home miners are not likely able to scale up for the intensity of this kind of competition. “ “The Emergence of New Roles in Cryptocurrency Industry
The blockchain industry has evolved from the simpler early days with some people mining and verifying transactions, and some other people investing in cryptocurrency. Now there are thousands of professionals working in a much more complicated industry. These professionals can be broadly grouped into ten key roles.
We have already discussed the basic roles that exist in the cryptocurrency space from the perspective of Bitcoin and other fundamental tokens. Now we will move on to a more focused discussion about the entire spectrum of roles in the blockchain industry today. The roles that facilitate everything from ICOs, to market making, to exchanges; from where they are now, and to where they will be in the future
Ethereum, Smart Contracts and Dapps
In order to understand the roles that have developed in the blockchain industry, we need to examine the underlying technology again. Ethereum is second only to Bitcoin from the perspective of market capitalization and popularity. Like many other altcoins created to address inherent weaknesses in Bitcoin, Ethereum was created to be better and faster.
In the words of Ethereum co-founder, Vitalik Buterin:
I thought [those in the Bitcoin community] weren’t approaching the problem in the right way. I thought they were going after individual applications; they were trying to kind of explicitly support each [use case] in a sort of Swiss Army knife protocol.”
Ever since Ethereum was developed in 2015, the role of the underlying blockchain technology and potential applications upon that technology have been absolutely amazing. We will now discuss some of those applications. “ “Ethereum, Smart Contracts and Dapps §2
The Ethereum Virtual Machine
One of Ethereum’s core innovations is that its software enables developers to run programs with any programming language on the network. This makes the process of creating blockchain applications much easier, faster, and more efficient than before. Developers had to build an entirely new blockchain to run their application before, but now they can develop different applications on the Ethereum blockchain. These applications are referred to as Dapps.
Developers using the Ethereum Virtual Machine can build and deploy numerous decentralized applications, hence decentralizing many services across many sectors.
This development has made the work of developers in the cryptocurrency space more efficient and quite rapid too. As a result, the majority of new cryptocurrencies are now built on the Ethereum network.
Other than Dapps, the Ethereum blockchain has also been used to create decentralized autonomous organizations (DAO).
A DAO consists of one or more contracts and could be funded by a group of like-minded individuals. A DAO operates completely transparently and completely independently of any human intervention, including its original creators. A DAO will stay on the network as long as it covers its survival costs and provides a useful service to its customer base” Stephen Tual, Slock.it Founder, former CCO Ethereum
“ “Ethereum, Smart Contracts and Dapps §3
Other than Dapps, the Ethereum blockchain has also been used to create decentralized autonomous organizations (DAO).
A DAO consists of one or more contracts and could be funded by a group of like-minded individuals. A DAO operates completely transparently and completely independently of any human intervention, including its original creators. A DAO will stay on the network as long as it covers its survival costs and provides a useful service to its customer base” Stephen Tual, Slock.it Founder, former CCO Ethereum
How has the Ethereum network changed the role of developers in the cryptocurrency space?
It is obvious from the above quote that Ethereum has made it very easy for developers to build and launch Dapps, DAOs and Smart Contracts on the network. You can say that it now takes less genius to create a cryptocurrency, thanks to Ethereum.
What are we likely to see in the future?
The roles of developers in the cryptocurrency space will keep evolving and perhaps become less complex with time. There are numerous online courses offering training for developers, as the remuneration for this function is becoming increasingly lucrative. But like with many other things, it is also a question of survival of the fittest. The competition will be fierce, and the urge to survive will be intense. The best developers may come up with something we cannot even imagine now, and better than what we currently have.
“ “Notable Personalities within the Cryptocurrency Industry
Vitalik Buterin – Programmer and Entrepreneur
The well-known genius behind the Ethereum project is a young scientist and entrepreneur named Vitalik Buterin. His unique contribution, through the Ethereum project, has transformed the blockchain industry since the project took off in 2015.
Ethereum has allowed for the development of Dapps and smart contracts which have revolutionized many blockchain projects. It is currently the second largest cryptocurrency in terms of transaction volumes.
Nick Szabo
He has been referred to as the secret cryptocurrency pioneer. He is responsible for coining the term “smart contracts” in 1996, and he is also behind an earlier blockchain innovation – Bitgold. He first came to attention in 1996 after his publication of Smart contracts: Building blocks for digital free markets.
John McAfee
He is both hated and loved in the cryptocurrency industry in equal measure. McAfee, a software tycoon, is heavily invested in cryptocurrencies, and was for a while, the “voice of judgement” to determine which ICOs or coins to invest in. Investors waited for his tweet before they invested their money. John McAfee’s tweets have played an outsized role in shaping the cryptocurrency space, especially in promoting ICOs and popularizing certain coins. “ “Notable Personalities within the Cryptocurrency Industry §2
Hal Finney
He is second only to Satoshi Nakamoto when it comes to using bitcoin as a payment method, having actually received the first bitcoin payment from Satoshi himself. He has also been “accused” of being the real identity of Satoshi Nakamoto. Hal Finney has made milestone contributions to the development of cryptocurrencies. Finney was a cryptography activist and regularly posted on cypherpunks. In 2004, he created the first reusable proof of work system, before bitcoin.
The DAO hacker
This anonymous person (or group) has made a significant impact on cryptocurrency by managing to hack into the Ethereum network. The DAO hack resulted in the split of the Ethereum network, leading to the emergence of Ethereum classic. As much as this was a bad thing for several reasons, it has also served as a learning experience for the future; smart contracts are not infallible if a flaw can be introduced into the code.
Contrasts between Blockchain & Traditional Roles
The disruptive technology behind cryptocurrency is making an impact across diverse industries, affecting jobs in different ways. We will examine some traditional roles to see how they have evolved to function inside the blockchain industry. And we will see how some other traditional-world roles simply cannot exist in the blockchain space at all.
“ “Traditional Roles which will evolve
Realtors
Once they get a willing buyer or seller to service, the bulk of work that a realtor does is paper work. With Blockchain technology, the paperwork will be largely eliminated.
The role of realtors is likely to change in many ways similar to that of stockbrokers. Their role will become focused on facilitating or assisting individuals make complex decisions as opposed to just facilitating the transaction.
SMARTRealty is a blockchain startup that is transitioning the real estate business to the blockchain. To the degree that paperwork is eliminated or significantly reduced, the process of buying and selling a house will be made much faster. The verification and transfer process will be swift and secure with records immutably stored on the blockchain.
The blockchain will also allow for a trustless system where potential home buyers and sellers can interact directly without the need for a trusted intermediary.
“ “Traditional Roles which will evolve §2
Banking Roles
Research has shown that millions of people in the undeveloped world remain largely unbanked. Many developing nations suffer from unstable governments which lead to unstable national currencies and unreliable legal frameworks. This may in fact be the population group that needs cryptocurrencies more than anyone.
Banking roles have largely become digitized in the modern globalized economy. All roles in the banking industry will likely further become focused upon the specific value added by each role. There will be less of a focus on pushing paperwork and a greater focus on providing a unique and discernable service to their customers.
In third world countries with multitudes of unbanked individuals, the blockchain technology will allow those countries to start fresh, leapfrog ahead, and remove many of the grievances and friction points which presently plague their financial systems. “ “Traditional Roles which will evolve §3
Supply Chain Management
In the past, it has been the duty of supply chain managers to record and track goods or services through the entire process from creation to their ultimate destination. This has been an arduous task, especially when the supply chain is prolonged, complicated and indirect. Blockchain startups have been created to tackle this challenge. The blockchain offers indisputably superior supply chain management as it greatly reduces delays, eliminates human error, is cheaper to use, and much easier to monitor.
This role will therefore be forced to evolve to one of mostly management and troubleshooting issues along the supply journey.
Records Management
Records Management is a supportive yet vital role in many institutions. Record managers are tasked with responsibility to ensure the integrity of records both manually and electronically. The blockchain is one large immutable and tamper proof ledger. What better record could anyone possibly ask for? As more and more industries integrate blockchain into their operations, there will be less and less need to employ record managers to maintain records and ensure their integrity.
Record Managers are likely to be one of the roles actually made obsolete as a result of the blockchain technology. The value they currently add to a business transaction will be rendered useless, and there does not appear to be any similar or adjacent role for these people to fill. “ “Traditional Roles which will evolve §3 Retail Roles
The Retail business contains many roles from the front to the back end. The front end of the retail business should survive because they provide a special face-to-face service to customers. The back end of the retail operation however is a different story. Everything from supply chain management to accounts is likely to become obsolete. Blockchain technology will not only fundamentally redefine those roles but it will also dramatically reduce the workforce required to carry out the remaining functions.
Openbazaar is one blockchain startup that is trying to create a trustless system that will allow manufacturers and buyers to connect without a middleman.
The roles in the retail industry are likely to further move toward providing personal service and creating unique value-added experiences. Roles which are largely administrative and indistinguishable from one firm to another will become obsolete or at least dramatically leaner with time.
What are current expectations for each role in the cryptocurrency industry? Read the full lesson of the UBAI Intermediate Course to get better understanding of blockchain industry:
UBAI.co
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submitted by UBAI_UNIVERSITY to u/UBAI_UNIVERSITY [link] [comments]

Subreddit Stats: CanadaPolitics posts from 2017-11-17 to 2017-12-14 21:55 PDT

Period: 26.92 days
Submissions Comments
Total 941 21286
Rate (per day) 34.95 762.33
Unique Redditors 266 2329
Combined Score 32739 150061

Top Submitters' Top Submissions

  1. 3428 points, 60 submissions: _Minor_Annoyance
    1. Poll suggests majority of Canadians backs outright ban on guns in urban areas (395 points, 1213 comments)
    2. Ottawa to build 100,000 new affordable units, recognize housing as 'fundamental right ' (345 points, 113 comments)
    3. Justin Trudeau Is ‘Very Concerned’ With FCC’s Plan to Roll Back Net Neutrality (294 points, 79 comments)
    4. Harper Government Identified ‘Mental Health Issues’ as a Root Cause of Terrorism, Secret Documents Show (265 points, 100 comments)
    5. Conservatives accused of free speech double standard after Catholic university blocks abortion film (216 points, 143 comments)
    6. Federal government proposes changes designed to drop cost of patented drugs (173 points, 40 comments)
    7. Andrew Coyne: Tories can stop blowing smoke because there’s nothing suspicious about Morneau share selloff (144 points, 100 comments)
    8. Trudeau government wants to 'demystify' G7 summit by involving Canadians (132 points, 37 comments)
    9. Canadian workforce is more educated and sitting in traffic longer than ever before: 2016 census (104 points, 15 comments)
    10. Conservative party leadership advisor helped create anti-Islam organization (90 points, 54 comments)
  2. 1991 points, 109 submissions: idspispopd
    1. Video of starving polar bear in Canada's Arctic re-ignites conversations about climate change (209 points, 131 comments)
    2. Proportional Representation Will Provide Balance, Not Extremism (199 points, 145 comments)
    3. Manitoba gets failing grade for 'nightmare' rates of child poverty (124 points, 25 comments)
    4. N.W.T. residents can now choose 'X' as gender on IDs (87 points, 36 comments)
    5. Nunavut creates country food safety guidelines to boost traditional menus across territory (87 points, 40 comments)
    6. 'We want Nunavut to shine:' Territory's new premier looks to the future (82 points, 5 comments)
    7. B.C.’s upcoming referendum on electoral reform will stand, Attorney-General says (82 points, 50 comments)
    8. Jagmeet Singh takes shot at Jason Kenney in swing through Alberta (62 points, 28 comments)
    9. Uniformed police won’t be allowed to march in Vancouver’s Pride Parade (56 points, 85 comments)
    10. Thawing permafrost causes $51M in damages every year to N.W.T. public infrastructure: study (48 points, 4 comments)
  3. 1548 points, 14 submissions: steadly
    1. This Conservative Politician Said Weed Is Just As Deadly as Fentanyl (492 points, 176 comments)
    2. Prime Minister announces nomination of the Honourable Sheilah L. Martin to the Supreme Court of Canada (283 points, 146 comments)
    3. Liberals 41, Conservatives 30, NDP 18, Green 7 : Nanos (147 points, 79 comments)
    4. Bill Morneau says Ottawa has no plans for a Netflix tax (132 points, 46 comments)
    5. Prime Minister names the Honourable Richard Wagner as new Chief Justice of Canada (113 points, 48 comments)
    6. Singh launched NDP byelection campaign in wrong Scarborough riding (113 points, 75 comments)
    7. Trudeau government sets new record for vacant appointments (62 points, 23 comments)
    8. Prime Minister announces the appointment of two new Senators (53 points, 42 comments)
    9. Cabinet ministers don't resign nowadays, they just linger and then get shuffled (39 points, 1 comment)
    10. $100 million for gay purge victims as PM apologizes for LGBTQ discrimination (33 points, 6 comments)
  4. 1235 points, 19 submissions: MethoxyEthane
    1. Federal marijuana legislation passed third reading in the House of Commons, headed for the Senate (215 points, 96 comments)
    2. Trudeau says Canadians need a 'mindset change' to tackle sexual assault (191 points, 85 comments)
    3. PEI Green Party win their second seat in the Charlottetown-Parkdale provincial by-election (109 points, 28 comments)
    4. Ontario PC leader Patrick Brown releases full platform 6 months ahead of provincial campaign (104 points, 137 comments)
    5. Speaker kicks Tory MP Blake Richards out of Question Period (95 points, 31 comments)
    6. Premier Kathleen Wynne sues opposition leader Patrick Brown for defamation (90 points, 56 comments)
    7. Trudeau set to name new judge to Supreme Court of Canada on Wednesday morning (87 points, 31 comments)
    8. Kathleen Wynne calls $12B in savings in PC platform ‘ridiculous’ (83 points, 68 comments)
    9. Liberal government backs bill that demands full implementation of UN Indigenous rights declaration (55 points, 41 comments)
    10. December 11 By-Election Discussion Thread (49 points, 322 comments)
  5. 1094 points, 5 submissions: StrudleNudle
    1. Comparing marijuana to fentanyl is social conservatism without a clue: Opinion (723 points, 115 comments)
    2. Liberals rebound in polls, Nanos says women giving Grits lead over Conservatives - The Hill Times (161 points, 185 comments)
    3. Liberals 40, Conservatives 31, NDP 17, Green 7: Nanos (112 points, 116 comments)
    4. 'Charterpedia' launched by the DOJ today. Summarizes every Charter right and it's completely noted up. (87 points, 21 comments)
    5. Tory pit bull Poilievre looks for ‘vulnerability’ in attacks on Morneau (11 points, 13 comments)
  6. 894 points, 34 submissions: uadoption
    1. Conservative comparison of pot to fentanyl 'irresponsible': Health minister (223 points, 29 comments)
    2. Canada vows to aggressively defend lumber sector after duties confirmed by U.S. (207 points, 43 comments)
    3. ‘Keep our great country safe from all the weed,’ Conservative critic pleads in Parliament poem (115 points, 107 comments)
    4. Driverless trucks are coming to Canada and the impact will be profound (108 points, 172 comments)
    5. The secret of happiness for Quebec anglos (26 points, 83 comments)
    6. Making the link between animal and human abuse (23 points, 9 comments)
    7. Bell's 'Let's Talk' campaign rings hollow for employees suffering panic attacks, vomiting and anxiety (16 points, 7 comments)
    8. Watch China's efforts to influence as Canada pursues trade, says former envoy (15 points, 0 comments)
    9. Nearly half of illegal border-crossers into Canada are from Haiti (14 points, 7 comments)
    10. Refugee system isn't for those seeking better economic life: Trudeau (14 points, 2 comments)
  7. 891 points, 30 submissions: OrzBlueFog
    1. Maxime Bernier reiterates opposition to Net Neutrality (352 points, 173 comments)
    2. Unionized Halifax Shipyard workers vote 99% in favour of strike mandate [NS] (204 points, 55 comments)
    3. Nova Scotia announces pot will be sold through NSLC and online [NS] (72 points, 13 comments)
    4. Feds willing to give more pot tax revenue to provinces to help municipalities (60 points, 15 comments)
    5. Live at a tony address? Postal Code Project puts Canada's richest neighbourhoods in taxman's crosshairs (26 points, 12 comments)
    6. [Meta] Comment sort order - controversial? (26 points, 29 comments)
    7. Child Advocate wins battle for mandatory reporting of deaths, critical injuries [NL] (15 points, 0 comments)
    8. Nova Scotia community hopes rocket launch site will revitalize economy [NS] (13 points, 5 comments)
    9. NDP executives resign in protest over party leader Gary Burrill [NS] (12 points, 2 comments)
    10. Former Dion human rights aide pans Ottawa arms-control plans (11 points, 1 comment)
  8. 765 points, 1 submission: GumboBenoit
    1. As US prepares to gut net neutrality rules, Canada strengthens them (765 points, 112 comments)
  9. 716 points, 5 submissions: BattlestarBattaglia
    1. Inside Bell's Push To End Net Neutrality In Canada (479 points, 91 comments)
    2. Fraud investigation casts cloud over Ontario PCs’ platform launch (78 points, 23 comments)
    3. Patrick Brown’s fiscally risky, economically dubious plan for Ontario (66 points, 49 comments)
    4. Wynne says PC leader Patrick Brown’s hope of finding painless cuts is ‘nonsense’ (47 points, 33 comments)
    5. Police sift through ballot boxes in Hamilton PC nomination investigation (46 points, 4 comments)
  10. 710 points, 31 submissions: scottb84
    1. As Canadians consume ‘harmful’ levels of sodium, officials urge chefs to limit salt but face resistance (157 points, 109 comments)
    2. University of Toronto contract academic staff vote 91% in favour of strike mandate (82 points, 9 comments)
    3. The Deadly Racism of Thunder Bay: A series of stalled police investigations reveals a city that’s indifferent to Indigenous lives (73 points, 52 comments)
    4. No, postmodernism at universities isn'€™t a vile, cancerous doctrine (64 points, 88 comments)
    5. Toss of the Bitcoin: Canadians have poured millions into blockchain, but many don’t know what they’re buying (51 points, 33 comments)
    6. Andrew Scheer’s dad jeans and awkward hellos are painstakingly deliberate (43 points, 64 comments)
    7. The Misguided Fight Against Sex-Ed Reform: Alberta’s proposed curriculum has been met with the same tired controversy—and it isn’t making kids any safer (36 points, 3 comments)
    8. Toronto rental vacancy rates lowest in 16 years (32 points, 3 comments)
    9. Booze, drugs involved in 73 oilsands safety incidents since 2013, Suncor says (20 points, 7 comments)
    10. Buzzkillers: A brief history of the LCBO (17 points, 0 comments)
  11. 707 points, 30 submissions: kingbuns2
    1. Map showing Post-Secondary Degrees of Canadian MPs | Created by CanadianHistorian (152 points, 78 comments)
    2. Inuit want free travel over international waters between Canada, Greenland (104 points, 18 comments)
    3. On the Rails: A Case for Renewed Leftist Infatuation with Transport (80 points, 44 comments)
    4. Trudeau says housing is a human right — what does that mean exactly? UN says such a recognition does not mean the government has to build all of the nation's housing stock (68 points, 29 comments)
    5. Poll reveals Canadians' view of residential schools (36 points, 41 comments)
    6. Cashing In On Trump’s War on Universities: Republicans are gutting U.S. education; Canada — with boldness — can reap the benefits (30 points, 2 comments)
    7. Activists say Ottawa should deliver housing funds over two years, instead of 11 (29 points, 3 comments)
    8. African aid can’t keep up with stolen wealth (23 points, 4 comments)
    9. B.C. needs a brisk boost to $15/hr minimum wage: No reason for province to take a slower road than Ontario or Alberta (23 points, 20 comments)
    10. Postmedia, Torstar Marching Toward Media Monopolies: Journalism suffers as corporations swap papers to end competition (18 points, 1 comment)
  12. 695 points, 3 submissions: floatingpaper
    1. Canada will not move embassy to Jerusalem, federal government says (378 points, 236 comments)
    2. Ontario passes Cannabis Act, will take effect July 1, 2018 | Toronto Star (273 points, 166 comments)
    3. I highly recommend the show Political Blind Date by TVO. (44 points, 7 comments)
  13. 583 points, 3 submissions: Savage_N0ble
    1. Canadians want Ottawa to ban use of tax havens, poll finds | Toronto Star (478 points, 125 comments)
    2. Ottawa pressed on new registry to flush out mystery corporations (66 points, 26 comments)
    3. When it comes to harassment in politics, powerful people are writing rules for themselves: Neil Macdonald - CBC News (39 points, 13 comments)
  14. 554 points, 8 submissions: ThornyPlebeian
    1. Canada Jobless Rate Falls to Lowest in a Decade on Hiring Surge (228 points, 93 comments)
    2. Liberal Gordie Hogg defeats former Tory cabinet minister in South Surrey-White Rock (179 points, 94 comments)
    3. Trudeau to offer formal apology for LGBTQ persecution (70 points, 76 comments)
    4. Liberal MP accuses Conservative James Bezan of ‘humiliating’ sexual comments (48 points, 56 comments)
    5. Feds table bill to expunge 'unjust' convictions of LGBTQ Canadians (16 points, 16 comments)
    6. New fighter-jet competition to have 'economic interest' requirement (10 points, 8 comments)
    7. PM Trudeau strayed too far from historic wrongs in LGBTQ apology: Tory MPs (2 points, 0 comments)
    8. Canadian Surface Combatant team, led by Lockheed Martin Canada, unveiled (1 point, 5 comments)
  15. 539 points, 21 submissions: CytheYounger
    1. Canadian hate crimes growing and more violent for third straight year (302 points, 300 comments)
    2. Big Oil abandoning Canada’s oilsands in quest for cleaner crude (48 points, 39 comments)
    3. Washington Governor Touts Vancouver-Portland High-Speed Rail (44 points, 8 comments)
    4. Alberta's Rachel Notley urges Trudeau to speak up for pipelines (43 points, 77 comments)
    5. Despite What Politicians Say, Hundreds of BC Gas Wells Leak Methane (30 points, 8 comments)
    6. How will Canada manage its wildfires in the future? (13 points, 2 comments)
    7. Firestorm: Fort McMurray wildfire is a warning, book claims (9 points, 5 comments)
    8. New UBC-led report finds alternatives to Site C creates significantly more jobs, produce electricity at a lower cost with lower risks, have a significantly lower environmental impact, and produce less greenhouse gas emissions. (8 points, 5 comments)
    9. Behind the Mask of the ‘Moderates’ (7 points, 32 comments)
    10. B.C. oil spill response times make Trans Mountain Pipeline 'a ticking time bomb' (6 points, 8 comments)
  16. 451 points, 13 submissions: gwaksl
    1. Andrew Scheer's Everyman image won't be enough to beat Justin Trudeau - Macleans.ca (104 points, 142 comments)
    2. Federal Poll Average: LPC 38.64, CPC 31.43, NDP 16.76, GPC 6.81, BQ 4.73 (61 points, 59 comments)
    3. Liberals 39, Conservatives 31, NDP 17, Green 7: Nanos (59 points, 37 comments)
    4. Andrew Scheer weighs in on Catholic university that banned abortion film | Globalnews.ca (49 points, 54 comments)
    5. Liberals reject warship proposal that companies said would save taxpayers as much as $32B (49 points, 26 comments)
    6. COMMENTARY: The NDP had better get their act together (for the Tories’ sake!) - National | Globalnews.ca (30 points, 56 comments)
    7. Canada’s global prosperity ranking slips to lowest level in 11 years, but we still beat the U.S. | Financial Post (30 points, 16 comments)
    8. The 'free the beer' court case shows Canada isn't a true economic union (30 points, 25 comments)
    9. Weighted Poll Averages Post Singh (25 points, 10 comments)
    10. John Ivison: New private member’s bill could mean end of the Happy Meal in Canada (6 points, 3 comments)
  17. 444 points, 15 submissions: sluttytinkerbells
    1. Globe editorial: Taking the ‘hi’ out of ‘bonjour-hi’ won’t save the French language (88 points, 106 comments)
    2. Legal marijuana deadline may be up in smoke as Tory senators stall bills (73 points, 48 comments)
    3. Employer who stole nearly $3M in wages from 157 workers fined $500 (54 points, 16 comments)
    4. Migrant workers’ group slams NDP’s Singh for online posts on farm visit (49 points, 20 comments)
    5. Canada should fight for open internet, says former head of FCC - Politics (47 points, 13 comments)
    6. 2 more Winnipeg police officers charged with impaired driving (46 points, 5 comments)
    7. Alberta man convicted of criminal harassment following Creep Catcher incident (29 points, 4 comments)
    8. North Korean defectors in Toronto worried they may be deported: ‘They treat us like garbage’ (19 points, 10 comments)
    9. Immigrant French lesson program a failure: auditor general (15 points, 4 comments)
    10. Hydro One’s prepaid meter proposal sparks criticism | Toronto Star (7 points, 3 comments)
  18. 434 points, 2 submissions: NeutralEvilCarebear
    1. ‘He said, No, no, no’: Trump tells crowd about trade disagreement with Trudeau (264 points, 102 comments)
    2. Here’s all the Canadian senators who just awarded themselves a medal meant to honour ‘unsung heroes’ (170 points, 32 comments)

Top Commenters

  1. _Minor_Annoyance (3783 points, 228 comments)
  2. OrzBlueFog (3097 points, 239 comments)
  3. warflax (2540 points, 242 comments)
  4. fencerman (2336 points, 307 comments)
  5. CULTURAL___MARXIST (1915 points, 184 comments)
  6. EngSciGuy (1833 points, 233 comments)
  7. Cansurfer (1684 points, 255 comments)
  8. SatanicBarrister (1580 points, 156 comments)
  9. Pie_Gun (1387 points, 148 comments)
  10. Majromax (1202 points, 117 comments)
  11. randomu_name (1195 points, 156 comments)
  12. StrudleNudle (1176 points, 142 comments)
  13. eriktheguy (1161 points, 176 comments)
  14. SugarBear4Real (1161 points, 75 comments)
  15. CupOfCanada (1122 points, 185 comments)
  16. jtbc (1054 points, 115 comments)
  17. Acesolid (1021 points, 105 comments)
  18. juanless (1006 points, 92 comments)
  19. raptorman556 (891 points, 87 comments)
  20. habs76 (890 points, 61 comments)
  21. justinstigator (856 points, 77 comments)
  22. AvroLancaster (810 points, 101 comments)
  23. marshalofthemark (799 points, 113 comments)
  24. the_monkey_ (785 points, 70 comments)
  25. FleetInBeing (781 points, 42 comments)
  26. Statistical_Insanity (758 points, 124 comments)
  27. MethoxyEthane (731 points, 90 comments)
  28. LastBestWest (725 points, 151 comments)
  29. Kyrias (693 points, 26 comments)
  30. kludgeocracy (611 points, 59 comments)
  31. Celda (608 points, 65 comments)
  32. Issachar (605 points, 102 comments)
  33. seaintosky (588 points, 69 comments)
  34. Daravon (588 points, 32 comments)
  35. GoOtterGo (571 points, 24 comments)
  36. AhmedF (569 points, 51 comments)
  37. GumboBenoit (557 points, 86 comments)
  38. Rithense (545 points, 106 comments)
  39. PGXHC (522 points, 35 comments)
  40. steadly (519 points, 28 comments)
  41. Galickah (500 points, 34 comments)
  42. ___OccamsChainsaw___ (472 points, 31 comments)
  43. DarthPantera (460 points, 45 comments)
  44. Jeffgoldbum (449 points, 27 comments)
  45. ChimoEngr (444 points, 132 comments)
  46. Move_Zig (443 points, 69 comments)
  47. RegretfulEducation (443 points, 61 comments)
  48. aberthin (442 points, 61 comments)
  49. PopeSaintHilarius (440 points, 52 comments)
  50. varsil (440 points, 30 comments)

Top Submissions

  1. As US prepares to gut net neutrality rules, Canada strengthens them by GumboBenoit (765 points, 112 comments)
  2. Comparing marijuana to fentanyl is social conservatism without a clue: Opinion by StrudleNudle (723 points, 115 comments)
  3. This Conservative Politician Said Weed Is Just As Deadly as Fentanyl by steadly (492 points, 176 comments)
  4. Inside Bell's Push To End Net Neutrality In Canada by BattlestarBattaglia (479 points, 91 comments)
  5. Canadians want Ottawa to ban use of tax havens, poll finds | Toronto Star by Savage_N0ble (478 points, 125 comments)
  6. Poll suggests majority of Canadians backs outright ban on guns in urban areas by _Minor_Annoyance (395 points, 1213 comments)
  7. Canada will not move embassy to Jerusalem, federal government says by floatingpaper (378 points, 236 comments)
  8. Maxime Bernier reiterates opposition to Net Neutrality by OrzBlueFog (352 points, 173 comments)
  9. Alberta MLA says marijuana legalization could lead to communist revolution by teh_inspector (349 points, 108 comments)
  10. Ottawa to build 100,000 new affordable units, recognize housing as 'fundamental right ' by _Minor_Annoyance (345 points, 113 comments)

Top Comments

  1. 385 points: whoami9's comment in ‘He said, No, no, no’: Trump tells crowd about trade disagreement with Trudeau
  2. 305 points: _Minor_Annoyance's comment in ‘He said, No, no, no’: Trump tells crowd about trade disagreement with Trudeau
  3. 288 points: FleetInBeing's comment in NDP, experts call for greater control over Canadian arms sales abroad
  4. 193 points: SugarBear4Real's comment in ‘He said, No, no, no’: Trump tells crowd about trade disagreement with Trudeau
  5. 191 points: AhmedF's comment in This Conservative Politician Said Weed Is Just As Deadly as Fentanyl
  6. 187 points: Shawnanigans's comment in Ottawa to build 100,000 new affordable units, recognize housing as 'fundamental right '
  7. 178 points: jacnel45's comment in Trump says Trudeau left out lumber, energy while talking trade numbers
  8. 175 points: Galickah's comment in Ottawa to build 100,000 new affordable units, recognize housing as 'fundamental right '
  9. 175 points: deleted's comment in Prime Minister names the Honourable Richard Wagner as new Chief Justice of Canada
  10. 171 points: kludgeocracy's comment in Ontario passes $15 minimum wage
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