Behind the Times

In 2022 we are getting an analysis of economic events in 1997 and 2008. There is an irony in the fact that economic experts are always behind the times. Just think, in 1997 the sum of $100 Billion was needed to stabilize a whole country. 25 years later people buying lottery tickets spend that much in a year. The inabulity to perceive currency as a figment of the imagination persists. Why? In part because a host of people do nothing but play with money. Have we learned from crypto that currency is imaginary and its usefulness depends entirely on the probity of the users? Probably not. Just think, $44 Billion easted on a chatter site without any material consequence.