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COMMENTARY: The cult of DOGE and hollowing out of the state
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COMMENTARY: The cult of DOGE and hollowing out of the state

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
It has long been believed that the ideal functioning of a competitive free market system will always lead to efficient outcomes. In fact, it is traced back to Adam Smith's theory of the invisible hand.
The article "Commentary: The Cult of Doge and Hollowing Out of the State" discusses the phenomenon of Dogecoin, a cryptocurrency that started as a meme but has gained significant attention and investment, reflecting broader societal trends. It critiques the growing fascination with cryptocurrencies like Dogecoin, which lack intrinsic value and are often driven by speculative bubbles rather than economic fundamentals. The piece argues that this trend symbolizes a broader cultural shift towards valuing quick, speculative gains over traditional economic stability and governance. It suggests that this "cult of Doge" contributes to the hollowing out of state functions, as public trust in government and traditional financial systems wanes, leading to a potential destabilization of economic and political structures. The author expresses concern over how this shift might undermine the state's ability to regulate, provide public goods, and maintain economic stability, ultimately questioning the long-term implications of such a cultural and economic transformation.

Read the Full SaltWire Article at:
[ https://www.msn.com/en-ca/politics/government/commentary-the-cult-of-doge-and-hollowing-out-of-the-state/ar-AA1BTkwK ]