Cryptocurrencies, the most important paper in economics, and an ad hoc bond market

Perhaps the most important economics research paper in several decades was recently published in the Journal of Economic Perspectives, and it has largely gone unnoticed. It reveals that the Japanese government, after thirty years of running huge budget deficits, actually has net financial assets equivalent to only 33% of GDP. In a world where mundane [ ] The post Cryptocurrencies, the most…