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Compiled and edited by: BitpushNews Introduction: Political Incentives and the Inevitability of Debt Praise to Satoshi Nakamoto, whose existence and the law of compound interest are independent of individual identity. Even governments have only two ways to pay for expenses: using savings (taxes) or issuing debt. For governments, savings are equivalent to taxes. It’s well known that taxes are unpopular with the public, but spending money is much more appealing. Therefore, politicians tend to issue debt when distributing welfare to commoners and the elite. Politicians always tend to borrow from the future to secure their current re-election, because when the bills are due, they may no longer be in office. If all governments are “hard-coded” to issue debt rather than raise taxes to distribute welfare due to incentives for officials,…# Analysis# defi# Exchange# MarketPre
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- Author｜Azuma ( @azuma_eth ) Ethena is experiencing the largest outflow of funds since its inception. On-chain data shows that the circulating supply of Ethena’s main stablecoin product, USDe, ...