From: Cameron Otsuka Date: Mon, 5 Aug 2024 22:52:54 +0000 (-0700) Subject: use emdash X-Git-Tag: v1.0.0~88 X-Git-Url: https://git.otsuka.systems/?a=commitdiff_plain;h=ad744ac85137cdab58e3a28a92d8249491bb0e3f;p=cotsuka.github.io use emdash --- diff --git a/content/articles/monetary-system-enshittification/index.md b/content/articles/monetary-system-enshittification/index.md index a3cae90..01a432b 100644 --- a/content/articles/monetary-system-enshittification/index.md +++ b/content/articles/monetary-system-enshittification/index.md @@ -11,7 +11,7 @@ tags: Is the US monetary system experiencing enshittification? And how do we solve it? If we think about monetary systems as platforms which facilitate value transfer, I think some of [Cory Doctorow's](https://twitter.com/doctorow) ideas on preventing platform decay can apply. -> "First, they are good to their users; then they abuse their users to make things better for their business customers; finally, they abuse those business customers to claw back all the value for themselves. Then, they die." - Cory Doctorow +> "First, they are good to their users; then they abuse their users to make things better for their business customers; finally, they abuse those business customers to claw back all the value for themselves. Then, they die." — Cory Doctorow Ultimately, enshittification is a rent-seeking problem: the platform is no longer incentivized to maximize value for the users since they're locked into the network. Rent-seeking continues to drain value from debtors to creditors and leads to heavy stratification of society.