Recent events in the Banking sector, indicate that another financial crisis may be in the horizon! Although efforts are made to contain it, it seems that little has been actually done, or learned since the ‘great recession’ a mere 15years ago.
This points both to a problem in the economic theories of banking, as well as to a gap between such theorizing and the policies that implement them, especially in the context of the actions undertaken by central banks.
Critics of the current system suggest that better enforcement and more regulations can address this problematic situation, but they fall short of questioning banking itself. The critique and the recommendations based on it matter. However, they are not going as far as to imagine and propose an alternative to the current dominant monetary practice.
What would the current complex economy look like if it operated without Banking? What institutions and social technology could take its place?
Could experiments for designing CBDCs (Central Bank Digital Currencies) be a harbinger for a new form of money operating in a digitally native environment?
Will this still be ‘money' as we currently understand it?
In his talk Niklas Damiris will problematize the issues raised by these questions, and briefly outline an alternative inflected by his training in and experience from Physics (Quantum Foundations); Semiotics (Metamathematics) and Communication-Media systems.
About Niklas Damiris:
Niklas Damiris is a Natural Philosopher (aka Theoretical Physicist), turned Worldly Philosopher (aka Economic Theorist). He worked for some thirty years in Silicon Valley as consulting research scientist in Think-tanks (XEROX PARC; APPLE ATG; IBM ALMADEN RESEARCH) and as advisor to, or member of various start-ups. He was also for many years a Visiting Scholar and occasional lecturer at Stanford University, as well as a consulting professor in Political Economy at the University of Lugano, in Switzerland.