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How is this different from a factory that uses a lot of electricity to produce shoes that are then exported? I thought that was a good thing to have in your co
by fastball 5y ago
How is this different from a factory that uses a lot of electricity to produce shoes that are then exported?
I thought that was a good thing to have in your country, but apparently because this is crypto it is suddenly a bad thing?
- depaya 5y agoA factory provides jobs to locals. A factory stimulates the economy by creating local economic activity (suppliers, logistics, construction, restaurants). A crypto operation might provide a small fraction of everything above while also producing nothing of tangible value to society.
- fastball 5y agoDoesn't matter how "tangible" the value is if foreigners are paying for it.
- ben_w 5y agoDutch disease is a thing even when the economic value isn’t being frequent dismissed as a Ponzi-adjacent scam, precisely because of foreigners paying for stuff in one sector disproportionately to all the others. I’m not an economist, so I doubt my understanding is either deep or broad enough to make a proper critique in Kazakhstan’s case.