Economics, as a science, is a collection of several theses between the 17th century and the mid-30s of the 20th century. From the end of World War II, the science of economics becomes always contemporary, given the speed of changes in the society and the impacts of the economy on the world, especially after the oil crisis in the 1970s.

In 2014, Essentials of Economics, by Gregory Mankiw, in addition to condensing much of the accumulated knowledge, also rescues the roots of economics as a social science and translates for interested people concepts ranging from socio=psychological analysis, pre-Smith, to variations in analysis , based on Hayek, in order to give qualitative understanding to the readers.

In summary, his work highlights 10 basic principles, with links between the analytical part of the economy and the behavioral and social part of people, divided as follows, according to the author:

How people make decisions (that intimate moment, which reflects the intention to accomplish)

1 - People Face Tradeoffs: Efficiency and Equity

"At maximum efficiency, you don't have as much equity and vice versa." Logical and incomplete conclusions lead to disaster

2 — The Cost of Something is what you give up to get it

"The opportunity cost is, simply put, the difference between the chosen financial benefit and the optimal financial benefit for the situation you are in." Lack of information raises the opportunity cost to unearned levels.

3 — Rational people think on the margin

"The marginal utility, the pleasure-for-spending relationship, defines how much you expect to earn more!". It is, in short, the cost-benefit ratio of staying an extra hour at the office, both in terms of financial gain, and in advance of service, for example.

4 — People react to incentives

"Start from the point that there are explicit incentives, like laws and contracts; and implicit incentives, like individual moral codes." Compare costs and benefits to see if it's worth the energy expense.

How people interact (the clash between decision-making and marketing logic)

5 — Commerce can be good for everyone

"Commerce is not sports competition: some earn more, others less. Competitors one day, partners another!" Trade is a win-win relationship, otherwise everyone loses.

6 — Markets are generally a good way to organize economic activity

"The social consequences of the market are such that, with individual work, the entire social and economic context benefits and, in fact, the sum of all individual efforts generates economic prosperity." Lack of commitment leads to lack of prosperity!

7 — Sometimes governments can improve market outcomes

"The invisible hand of the Market needs institutions to protect it. Markets are only efficient when property rights are guaranteed." Regulation ensures that market failures do not harm those who keep their hand working!

How the Economy works (the macro relationship between markets, nations and people)

8 - The standard of living of a country depends on its ability to produce Goods and Services

"An economy only develops when average productivity increases." Focus on people and productive means guarantee stability and demand generation of lasting goods and services.

9 - Prices rise when the government issues too much currency

"Inflation is a form of tax, as the government is the first to get its hands on this amount of incoming currencies in the economy (Patinkin effect), in addition to being the culprit for inflation itself." The state partner who, through taxes, leverages the entire population, goods and services generated.

10 - Society faces a short-term Tradeoff between Inflation and Unemployment

"Inflation > Economic Instability > Insecurity to Invest >

Low Investments > Fewer jobs > More unemployment.” The Phillips curve as a basis for studies of economic and social disturbances.

These principles are relevant in the real economy, as a way to understand the impact of cryptocurrencies in the world.

Marwin does not delimit cryptocurrencies, not least because they are new and still under study, but the concepts behind them apply to cryptoeconomics.

In these three macro areas, there is, symbolically, a tripod: Information, by the people, real gains for all, by the markets and state distancing from the market regulation, by the rulers.

Smith defined this issue very well: the market regulates itself and, in its failures, creates countervailing regulations, in order to reduce disagreements and disagreements. The government only oversees and maintains the negotiations within parameters that do not create an unreality that harms the economy as a whole, affecting the generation of goods and services - he spoke, especially, in the case of Tulips.

Markets must prosper not by the ruin of the minors, but by general roughness, based and observed that the pulverization of profits and dividends must always be guaranteed, in order to maintain the credibility of the system. Ponzi schemes are fought because they completely break this macro principle.

People must have enough security to, in prospering, be able to revert dividends to real demands, in order to turn the wheel of the economy and increase security, status and well-being, the driving forces that define the wealth of peoples and nations.

Which of these principles, after all, would not be included in the cryptocurrencies and the principles of the cryptosystem?

After all, bitcoin was created precisely to bring security, trust, better opportunities and greater state distancing from the digital financial market.

Thus, it is illogical to claim that bitcoin, for example, would not be a real currency for violating economic principles.

But, at this moment, the biggest risk for the cryptosystem is in the use of blockchain technologies, of smart contracts, to earn private gains based on deception of tokens and DefI, where only those who win are their creators.

It is this corrosion of trust and reliability that is, at this moment, generating good monetary output - through funds and companies, giving rise to the bad volume capital: of speculators and profiteers.

Self-regulation is needed at the expense of market self-scavenging.

Focusing on the preservation of people and capital will be the way to guarantee the fair status of the cryptosystem in the international financial system!