Bitcoin and the Reddit phenomenon - is there a shared explanation?
Daniel Dăianu (TRANSLATED BY COSMIN GHIDOVEANU)English Section / 10 februarie 2021
New technologies, the internet, as a support for social media, can act as a factor for the "democratization" of access to dialogue, to the social and political life, to decisionmaking. To use a concept of Albert Hirschman "Exit, voice and loyalty"'(1970), any citizen can make their "voice" heard, on any issue. Many of the silent ones can thus get such a voice. That can do good, but it can also favor cognitive dissonances, misunderstandings, division in society. Nor does it facilitate compromises in politics, if the public policies are not adequate. That is what has happened during the financial crisis, with the conflict between Wall Street and Main Street. This can lead to a rejection of the "elites" (with their bad and good parts), of the Establishment.