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by Melting_Harps
1110 days ago
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> I have not seen any mention of economical use except in third world countries. This is peak HN, if there ever was such a thing; you do realize that the Third World (an erroneous use of the term that relates to nations that were aligned with the Soviet Union but used to denote underdeveloped nations) comprises the most of the Human population; and if figures are correct about System D [0], it is actually the 2nd largest economy in the World and growing due currency collapses and hyper-inflation being wrought around the World. In recent literature on the informal economy, System D is the growing share of the world's economy which makes up the underground economy, which as of 2011 has a projected GDP of $10 trillion.The informal economy is usually considered as one part of a dual economy. Seriously, this is the most typical yet horridly-informed view on this matter and gets tossed in the echo-chamber; it's like saying that the USD (or any fiat currency) is really useless because the FOREX market (the biggest Industry in the World only after Agriculture) negates its utility because people only seem to trade it. I'll be the first to tell you that 99% of crypto is a scam but seriously just stick to something you actually understand before posting these inept diatribes. 0: https://en.wikipedia.org/wiki/System_D |
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That's not what "Third World" originally meant; Third World was used to refer to the non-aligned countries, those countries that were neither aligned with the US and NATO (the "First World") nor the Soviet Union and the Warsaw pact (the "Second World").