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The Dig
Crypto Dystopia or Popular Democracy w/ Hilary Goodfriend & Jorge Cuéllar
Nov 23, 2024
In a captivating discussion, Hilary Goodfriend, a postdoctoral researcher from Mexico, and Jorge Cuéllar, a Dartmouth professor specializing in Central American studies, dive into the complexities of contemporary Central America. They analyze Bukele's controversial crypto policies in El Salvador and Ortega's authoritarian turn in Nicaragua. The conversation highlights grassroots movements' resilience in Honduras and Guatemala against corruption, while unpacking the driving forces behind mass migration. Their insights reveal the intricate relationship between local struggles and U.S. foreign policy.
01:35:49
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Quick takeaways
- Nayib Bukele's embrace of cryptocurrency in El Salvador raises concerns about authoritarianism and skepticism among citizens regarding economic benefits.
- Daniel Ortega's regime in Nicaragua illustrates a troubling departure from revolutionary ideals through brutal repression and a growing migration crisis.
Deep dives
The Rise of Cryptocurrency in El Salvador
The adoption of cryptocurrency as legal tender in El Salvador under President Nayib Bukele has raised significant skepticism among Salvadorans. Critics view this move as primarily benefiting the Bukele family's interests in the crypto market rather than the economy as a whole. Many Salvadorans remain accustomed to a dollarized economy and lack adequate internet access to engage with crypto transactions effectively. This policy has triggered protests against Bitcoin, highlighting concerns that it represents a deepening of authoritarian control rather than innovative economic reform.
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Discover
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