The US is taking a liberal approach toward cryptocurrencies. On 9th March 2022, President Joe Biden put out an executive order calling on the government to examine the risks of crypto assets to protect US-based people and businesses interacting with virtual digital assets, abolish illegal crypto activity, and explore the possibility of creating a Central Bank Digital Currency.
Nepal Rastra Bank recently released a directive banning any investment in or transactions of cryptocurrency to curtail fraud and illegal outflow of domestic capital. This is a regressive move on the central bank’s part because banning cryptocurrency is like choosing to opt out of something that will inevitably become part of our daily lives.
There are mainly two types of democratic systems: direct democracy and representative democracy. In a direct democracy, people are allowed to vote directly on issues while in a representative democracy, people vote to elect representatives (politicians) to handle the stately affairs on their behalf. The danger of representative democracy is that it could end up becoming a joke like in Nepal.
Coffee consumption, overfishing, plastic pollution, and groundwater overuse are some of the examples of the “tragedy of the commons.” Humans drink over two billion cups of coffee every day contributing to habitat loss that has endangered 60 percent of plant species. Similarly, overhunting and overfishing will likely push many species to extinction.
People love Karl Marx for his coruscating classics The Communist Manifesto and Das Capital. The former he co-authored with Frederic Engels in 1848 formed the basis for the communist movement around the world. They argue capitalism will inevitably self-destruct to be replaced by socialism. The latter, published in 1867, explores the origins, development, and inner workings of the capitalist system, but also extols socialism.