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<keyword id="6355684" type="General" weightage="100" keywordseo="blockchain" source="Orion">Blockchain</keyword> projects around Web3.0 lost more than $2 billion to hacks and exploits in the first six months this year, a new report has shown. According to Blockchain auditing and security company CertiK, this year's hacking figure is more than all of 2021 combined. About $308 million were lost across 27 flash loan attacks in the second quarter, from $14 million in Q1. Flash loans are a decentralised finance (DeFi) mechanism that lets borrowers access extremely large amounts of cryptocurrency for very short periods of time. If used maliciously, flash loans can be used to manipulate the value of a certain token on exchanges or buy up all of the governance tokens in a project and vote to withdraw all of the funds, as happened to Beanstalk in April, reports The <keyword id="6765301" type="General" weightage="50" keywordseo="verge" source="Orion">Verge</keyword>. About $37.46 million was lost to "rug pulls" in Q2, down 16.5 per cent from the previous quarter. A rug pull in the crypto industry is when a development team suddenly abandons a project and sells or removes all its liquidity. Another report from Immunefi, a leading bug bounty platform, claimed this week that the global cryptocurrency market lost at least $670 million in the April-June quarter (Q2), and 97 per cent of the losses were due to hacks and scams. The crypto losses in the second quarter were up 52 per cent from $440 million in the same period last year. "The majority of these funds was lost by four specific projects, Beanstalk known as a decentralized stablecoin protocol, the <keyword id="14392683" type="General" weightage="50" keywordseo="harmony-horizon-bridge" source="Orion">Harmony Horizon Bridge</keyword>, <keyword id="14392681" type="General" weightage="50" keywordseo="mirror-protocol" source="Orion">Mirror Protocol</keyword>, and <keyword id="14392682" type="General" weightage="50" keywordseo="fei-protocol" source="Orion">Fei Protocol</keyword>," according to data from Immunefi. Nearly 46,000 Americans reported losing over $1 billion in crypto to scams since early 2021, according to a recent <keyword id="128681" type="General" weightage="50" keywordseo="federal-trade-commission" source="Orion">Federal Trade Commission</keyword> (<keyword id="88852" type="General" weightage="50" keywordseo="ftc" source="Orion">FTC</keyword>) report. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/cooling-crude-oil-prices-companies-in-these-sectors-could-benefit-the-most/articleshow/92738107.cms">Cooling crude oil prices – companies in these sectors could benefit the most</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/nothing-phone-1-to-launch-soon-price-features-and-everything-we-know-so-far/articleshow/92738463.cms">Nothing phone (1) to launch soon – price, features, and everything we know so far</a>

Blockchain projects around Web3.0 lost over $2 billion to hackers within first 6 months of 2022, says report

The global cryptocurrency market lost at least $670 million in the April-June quarter (Q2), and 97 percent of the losses were due to hacks and scams, a report said on Thursday. The crypto losses in the second quarter were up 52 per cent from $440 million in the same period last year. "The majority of these funds was lost by four specific projects, Beanstalk known as a decentralized stablecoin protocol, the <keyword id="14392683" type="General" weightage="80" keywordseo="harmony-horizon-bridge" source="Orion">Harmony Horizon Bridge</keyword>, <keyword id="14392681" type="General" weightage="80" keywordseo="mirror-protocol" source="Orion">Mirror Protocol</keyword>, and <keyword id="14392682" type="General" weightage="80" keywordseo="fei-protocol" source="Orion">Fei Protocol</keyword>," according to data from Immunefi, Web3's leading bug bounty platform. "In Q2 2022, most of the losses -- 96.92 per cent -- happened as a result of hacks. It is also notable that blackhat hackers are now primarily targeting and exploiting DeFi (decentralised finance), 49 out of 50 instances involved DeFi protocols," the report noted. The teams at Immunefi protect over $100 billion in users' funds. "We have reviewed all instances where blackhat hackers have exploited various crypto protocols, as well as cases of alleged fraudulent protocols and founders who have performed a rug pull in Q2 2022," said the company. They located 50 such instances, including both successful and semi-successful hacking attempts, as well as fraud events, in Q2. The most common type of crypto fraud are investment scams and since 2021, the <keyword id="160745" type="General" weightage="80" keywordseo="us-federal-trade-commission" source="Orion">US Federal Trade Commission</keyword> (<keyword id="88852" type="General" weightage="80" keywordseo="ftc" source="Orion">FTC</keyword>) has received complaints of losses totaling $575 million due to this kind of fraud. People lost crypto worth over $185 million in the US via romance scams in the first quarter this year, as fraudsters use new means to rob their victims, with romance scams featuring prominently. Nearly 46,000 Americans reported losing over $1 billion in crypto to scams since early 2021, according to a recent FTC report. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/lg-electronics-estimates-q2-operating-earnings-fall-by-12-on-weaker-demand/articleshow/92721180.cms">LG Electronics Q2 operating earnings fall by 12% on weaker demand</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/id-fresh-offers-stock-options-to-another-27-employees-aims-to-create-100-crorepatis-in-the-next-three-years/articleshow/92722488.cms">ID Fresh offers stock options to another 27 employees, aims to create 100 crorepatis in the next three years</a>

Crypto market loses $670 million in Q2 globally

<ul class="summary-list"><li>North Korean groups were behind a $100 million crypto hack last June, the FBI has confirmed.</li><li>State-backed Lazarus Group and APT38 plundered funds from Harmony's Horizon Bridge.</li></ul>US prosecutors have confirmed that two hacking groups backed by North Korea were behind a $100 million crypto theft from a California firm last year.In a statement Monday, the FBI <a href="https://www.fbi.gov/news/press-releases/fbi-confirms-lazarus-group-apt38-cyber-actors-responsible-for-harmonys-horizon-bridge-currency-theft" target="_blank" rel="noopener">confirmed</a> Lazarus Group and APT38 were behind a hack of crypto group Harmony's Horizon bridge on June 24.The agency said on January 13, said North Korean cyber actors used a privacy protocol to launder over $60 million worth of ethereum stolen during the June 2022 heist, with a portion sent to several virtual asset service providers and converted to bitcoin.The FBI said some of those funds were frozen, and identified 11 crypto wallets where the rest of the funds were deposited.The prosecutors said the agency continues "to identify and disrupt North Korea's theft and laundering of virtual currency, which is used to support North Korea's ballistic missile and Weapons of Mass Destruction programs."Harmony <a href="https://twitter.com/harmonyprotocol/status/1540904433525088256?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1540904433525088256%7Ctwgr%5E10817267435d6e9500351a4fde525860f582f61e%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fdecrypt.co%2F103873%2Fharmony-offers-1-million-bounty-for-returning-stolen-funds" target="_blank" rel="noopener">offered a $1 million bounty</a> for the return of its stolen assets, but this was unsuccessful.The group's software allows crypto to move between different blockchains on "bridges," but has emerged as vulnerable to hacking. Last year, Chainalysis <a href="https://blog.chainalysis.com/reports/cross-chain-bridge-hacks-2022/" target="_blank" rel="noopener">estimated</a> $2 billion in cryptocurrency has been stolen across 13 separate cross-chain bridge hacks, accounting for 69% of total funds stolen in the first seven months of 2022.Last week, Binance CEO Changpeng Zhao <a href="https://twitter.com/cz_binance/status/1614887319177428992?s=20&amp;t=GJERYEPRsFeLBxKMxiGc4A" target="_blank" rel="noopener">tweeted</a> the company had assisted crypto exchange Huobi in freezing some of those funds after a hacker tried transferring them through the group, recovering 124 bitcoin worth around $2.8 million.North Korea is seen as prolific in attempts to plunder cryptocurrency in a concerted malware hacking campaign, dubbed "<a href="https://www.cisa.gov/uscert/ncas/alerts/aa22-108a" target="_blank" rel="noopener">TraderTraitor</a>."It has backed crypto heists where hackers stole $1.2 billion worth of crypto and other virtual assets between 2017 and 2022, <a href="https://apnews.com/article/technology-crime-business-hacking-south-korea-967763dc88e422232da54115bb13f4dc" target="_blank" rel="noopener">AP reported</a>, with more than half of that figure occurring in 2022 alone.

FBI says North Korea-backed hackers stole $100 million from crypto firm Harmony's Horizon Bridge

<ul class="summary-list"><li>Hackers stole $100 million worth of cryptocurrencies from the Harmony blockchain Thursday.</li><li>Harmony said in a tweet that it identified the <keyword id="11907745" type="UNKNOWN" weightage="60" keywordseo="hack" source="Orion">hack</keyword> early Thursday morning.</li></ul>Hackers stole $100 million worth of cryptocurrencies from the Harmony blockchain Thursday, <a href="https://twitter.com/harmonyprotocol/status/1540110924400324608?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1540110926937894913%7Ctwgr%5E%7Ctwcon%5Es2_&amp;ref_url=https%3A%2F%2Fwww.cnbc.com%2F2022%2F06%2F24%2Fhackers-steal-100-million-in-crypto-from-harmonys-horizon-bridge.html">the company said on Twitter</a>. The company said it was working with the FBI and "forensic specialists to identify the culprits and retrieve the stolen funds." Harmony said it had notified the Horizon bridge to stop further transactions. Harmony did not immediately respond to Insider's request for comment.Harmony is the protocol behind the <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> bridge Horizon, which allows the exchange of a broad ecosystem of <keyword id="12682860" type="UNKNOWN" weightage="60" keywordseo="tokens" source="Orion">tokens</keyword> from blockchain to blockchain.Crypto bridges act as a sort-of intermediary that allows a variety of tokens to interact with one another, which is typicality difficult because networks like <keyword id="11892696" type="UNKNOWN" weightage="60" keywordseo="ethereum" source="Orion">ethereum</keyword> and <keyword id="11893902" type="UNKNOWN" weightage="60" keywordseo="bitcoin" source="Orion">bitcoin</keyword> require their native tokens to process transactions on their ecosystems. But such bridges are vulnerable to thefts given the lack of clarity behind the inner workings of their technology and the anonymity of the teams behind them. Hackers have also targeted bridges as they are a central market place for a wide collection of coins. The Horizon hack is the third attack on a crypto bridge so far this year, bringing the total stolen to roughly $1 billion. Hackers previously targeted the Wormhole bridge for $300 million in February before stealing $620 million from the Ronin bridge in March.

Hackers stole $100 million worth of cryptos from Harmony's blockchain in another blow to digital assets

North Korea-based notorious <keyword id="279456" type="General" weightage="80" keywordseo="lazarus" source="Orion">Lazarus</keyword> hacking group is back in action, targeting <keyword id="6354427" type="General" weightage="80" keywordseo="apple" source="Orion">Apple</keyword> <keyword id="62949" type="General" weightage="100" keywordseo="mac" source="Orion">Mac</keyword> users with fake job emails that contain malicious files. Researchers at cyber-security firm ESET posted a screenshot on Twitter that showed fake job listings from leading crypto exchange <keyword id="1972612" type="General" weightage="80" keywordseo="coinbase" source="Orion">Coinbase</keyword> by Lazarus, famous for spreading the WannaCry ransomware globally in 2017. The fake job listing was for an engineering manager, product security, at Coinbase. "A signed Mac executable disguised as a job description for Coinbase was uploaded to VirusTotal from Brazil. This is an instance of Operation by Lazarus for Mac," the ESET researchers posted in a tweet. The fake job emails have an attachment containing malicious files that can compromise both Intel and Apple chip-powered Mac computers. "Malware is compiled for both Intel and Apple Silicon. It drops three files: a decoy PDF document, a bundle and a downloader," warned researchers. The Mac malware campaign is new and not part of previous Lazarus campaigns. This time, "the bundle is signed July 21 (according to the timestamp) using a certificate issued in February 2022 to a developer named <keyword id="14778863" type="General" weightage="50" keywordseo="shankey-nohria" source="Orion">Shankey Nohria</keyword>. The application is not notarised and Apple has revoked the certificate on August 12," the researchers noted. Last month, cyber-security researchers linked Lazarus with stealing $100 million worth digital tokens from Harmony, the crypto startup behind Horizon Blockchain Bridge. The Lazarus Group has perpetrated several large cryptocurrency thefts totalling over $2 billion, and has recently turned its attention to Decentralised Finance (DeFi) services such as cross-chain bridges, according to London-based blockchain analysis provider Elliptic. The same group is believed to be behind the $540 million hack of <keyword id="14283106" type="General" weightage="50" keywordseo="ronin-bridge" source="Orion">Ronin Bridge</keyword>. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/meet-indias-real-gully-boy-vidit-aatrey-of-meesho-is-taking-the-entrepreneurial-dream-deep-inside-bharat/articleshow/93702491.cms">Meet India’s Real Gully Boy: Vidit Aatrey of Meesho is taking the entrepreneurial dream deep inside Bharat</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/indians-spend-half-an-hour-every-day-on-memes-and-thats-gone-up-80-in-the-last-year/articleshow/93702734.cms">Indians spend half an hour every day on memes and that's gone up 80% in the last year</a>

Lazarus hackers targeting Apple Mac users with fake job posts

<ul class="summary-list"><li><keyword id="11897508" type="UNKNOWN" weightage="60" keywordseo="starbucks" source="Orion">Starbucks</keyword> has released hot and iced versions of its new Apple Crisp Macchiato just in time for <keyword id="11936452" type="UNKNOWN" weightage="60" keywordseo="fall" source="Orion">fall</keyword>.</li><li>The <keyword id="11936449" type="UNKNOWN" weightage="60" keywordseo="drinks" source="Orion">drinks</keyword> feature flavors of apple, brown sugar, cinnamon, and a caramelized spiced apple drizzle.</li><li>I tried both drinks, which are great fall options for people who think the PSL is too sweet.</li></ul>I have a confession to make: I always dread fall. It signals that warm weather is gone, beach days have disappeared, and winter is near. I do not get excited by sweaters, Halloween, or anything pumpkin. But <a href="https://www.insider.com/starbucks-frappuccino-new-flavor-taste-2021-5">I'm always up for a new Starbucks drink</a>. So when the chain told me that it was <a href="https://www.insider.com/starbucks-has-new-summer-drinks-2020-8">releasing a new flavor</a> in honor of <keyword id="11936453" type="UNKNOWN" weightage="60" keywordseo="autumn" source="Orion">autumn</keyword>, I decided to put my biases aside - at least, temporarily - and get a little excited. And I was pleasantly surprised to find that the Apple Crisp Macchiato, which Starbucks released on Tuesday, could warm even my autumn-hating heart. Here's what I thought of both the hot and iced versions of Starbucks' brand-new drink, and why I like it more than <a href="https://www.businessinsider.com/starbucks-pumpkin-spice-season-starting-soon-2021-8">the classic Pumpkin Spice Latte</a>. <h2>The Apple Crisp Macchiato is Starbucks' newest fall drink</h2><div type="image" title="Starbucks Apple Crisp Macchiato" height="1500" width="2000" msid="85589962" hostid="261"></div>The hot and iced versions both have "layered flavors of apple and brown sugar melding like the filling of a gooey apple pie in harmony with <keyword id="11936450" type="UNKNOWN" weightage="60" keywordseo="espresso" source="Orion">espresso</keyword>," according to a press release. They also feature a caramelized-spiced apple drizzle, which is made with apple juice, apple puree, cinnamon, and nutmeg. Starbucks began testing "a bushel of apple-flavored favorites" - including apple maple syrup, apple cider doughnuts, and a variety of apple pies, cakes, and crisps - in the spring of 2020 while developing the drink."Creating an ingredient with a spicy baked-apple flavor was crucial to be able to bridge an autumn-red apple to espresso," Raegan Powell, the senior manager on Starbucks' research and development team, told Insider. "The number one thing we heard when developing the ingredients was that customers wanted more apple."So did they deliver? I went to my local Starbucks to find out. <h2>Since I always get my <keyword id="11909377" type="UNKNOWN" weightage="60" keywordseo="coffee" source="Orion">coffee</keyword> cold, I decided to try the iced Apple Crisp Macchiato first </h2><div type="image" title="Starbucks Apple Crisp Macchiato" height="2016" width="1512" msid="85589966" hostid="261"></div>I got a preview of the new beverages at my local Starbucks a week before they were released to the public. First, I picked up my iced Apple Crisp Macchiato, which had caramel streaks running down the creamy middle and a dark-red bottom. When I took my first sip, I was shocked at how intense the coffee flavor tasted. It overpowered everything and was way too strong for me. But after I gave the drink a big stir with my straw, it completely changed.<div type="image" title="Starbucks Apple Crisp Macchiato" height="2016" width="1512" msid="85589968" hostid="261"></div>The apple flavor came through nicely, although it was more subtle than I had expected, and I could taste the hints of cinnamon. It also wasn't overly sweet, which I liked as I've always found the PSL to be far too sugary to enjoy as an everyday coffee. The iced Apple Crisp Macchiato was definitely nice and refreshing, and I could taste that hint of autumn inspiration. But, overall, the flavor didn't really stand out to me the way <a href="https://www.insider.com/starbucks-new-holiday-drink-irish-cream-cold-brew-is-delicious-2019-12#:~:text=And%20if%20cold%20brew%20isn,coconut%20milk%2C%20or%20soy%20milk.">new Starbucks' drinks had in the past</a>. <h2>Next up was the hot Apple Crisp Macchiato, which really felt like fall in a cup</h2><div type="image" title="Starbucks Apple Crisp Macchiato" height="1753" width="1512" msid="85589969" hostid="261"></div>Have you ever been on a walk through Central Park in October, when the leaves have all turned into brilliant shades of orange, yellow, and red, and it feels like you're strolling through a Nora Ephron film?I know, I know, those don't sound like the words of a girl who hates fall. But even I can sometimes embrace a little autumn, especially if it involves a drink as tasty as this one.The hot Apple Crisp Macchiato tasted really nice and crisp. The apple flavor came through much stronger than it did in the iced version, and the warm cinnamon notes made every sip so comforting.And I absolutely loved the foam on top with the caramelized-spiced apple drizzle. It sounds like it might make the drink too sweet, but the flavors were well-balanced. I licked my cap clean to get every last drop of it. <h2>Starbucks' Apple Crisp Macchiato is a great way to welcome fall, even if you hate the change of seasons </h2><div type="image" title="Anneta with Starbucks' Apple Crisp Macchiato" height="1544" width="1160" msid="85589970" hostid="261"></div>I've never understood the appeal of apple picking, but I think I'd be down if I had the hot Apple Crisp Macchiato in my hand. Starbucks' new autumn drink is especially great for coffee fans who don't love the super sweet sips of a PSL, but still want something comforting to match the chilly season. Sweater weather is always a bummer, but at least there's a comforting new coffee on the horizon.

I tried Starbucks' new Apple Crisp Macchiato, and it's the perfect fall drink for people who think the PSL is too sweet

<ul class="summary-list"><li>Paul Constant is a writer at Civic Ventures, a cofounder of the Seattle Review of Books, and a frequent cohost of the "<a href="http://www.pitchforkeconomics.com/">Pitchfork Economics</a>" podcast with <a href="https://www.businessinsider.com/category/nick-hanauer">Nick Hanauer</a> and David Goldstein.</li><li><a href="https://pitchforkeconomics.com/episode/care-work-is-more-valuable-than-ever-with-kate-bahn/">In the latest episode of Pitchfork Economics,</a> Zach Carter, the author of a new bestselling book on <keyword id="193514" type="PERSON" weightage="60" keywordseo="John-Maynard-Keynes">John Maynard Keynes</keyword>, says that Keynes was a social thinker — and that he probably wouldn't approve of the <keyword id="45304" type="COMPANY" weightage="60" keywordseo="Stimulus">stimulus</keyword> bill and indiscriminate spending.</li><li>Instead, Carter believes that Keynes would see this moment as an opportunity to close the <keyword id="6411412" type="UNKNOWN" weightage="60" keywordseo="inequality">inequality</keyword> gap, and heal social unrest.</li></ul>We've all <a href="https://apps.urban.org/features/wealth-inequality-charts/">seen the mind-boggling charts</a> demonstrating how income inequality has expanded to unprecedented levels in America since the late 1970s. We know that this ever-growing divide between the wealthiest one percent of all Americans and the rest of us was the result of a systemic trickle-down economic framework of tax cuts and deregulation promoted by conservative groups. (If you need a refresher, I <a href="https://www.businessinsider.com/3-books-reveal-shadowy-conspiracy-to-destroy-american-democracy-2020-7">wrote about the origins of that conspiracy earlier this summer</a>.) So we know what happened to ruin the American <keyword id="34412" type="ORGANIZATION" weightage="60" keywordseo="economy">economy</keyword>, and we know who committed the heist, and why they did it.But the funny thing is, not many progressives really understand much about the economic system that was in place for most of the 20th century. We know that up until the late 1970s, an ever-growing number of Americans were included in the economy — though of course racism and sexism held too many of our neighbors back from fully participating.We know that tax rates for the wealthiest Americans were high in post-war America, and that investments in our infrastructure were at unprecedented levels for most of the last century. But the mechanics of that American prosperity — the philosophy behind why the economy worked as well as it did — have been largely forgotten.In <a href="https://pitchforkeconomics.com/episode/author-interview-money-democracy-and-the-life-of-john-maynard-keynes-with-zachary-carter/">the latest episode of Pitchfork Economics</a>, David Goldstein credits economist John Maynard Keynes as "without a doubt, the most influential economist of the first three quarters of the 20th century. It was his ideas that guided the policies of the New Deal and essentially defined American liberalism," Goldstein said. In the episode, Goldstein interviews Zach Carter, the author of a new bestselling book titled "The Price of Peace: Money, Democracy, and the Life of John Maynard Keynes." Carter wrote the book to help demystify and add nuance to Keynes's life and work.While most Econ 101 classes simply, and truthfully, identify Keynes as "the economist who argued that governments should spend money during recessions to help pull the economy out of the doldrums and get employment moving again," Carter said, much of the nuance and understanding of Keynes's story has been forgotten as the neoliberal trickle-down crowd has taken hold. Keynesianism, Carter argues, was "more a way of looking at the world than a specific set of policies or policy tools." Keynes "was a social thinker, a philosopher, and a statesman whose intellectual project was concerned with the great problems of his day. And those problems in particular were World War II and the rise of authoritarianism all over the world of the 1920s and 1930s."At a time when authoritarianism and nationalism is on the rise again, Carter's framing of Keynes as someone who sought to use economics to "prevent war and heal societies that have been torn apart or put under strain" seems more timely than ever. Carter says Keynes "spent his whole life trying to prevent war, and he believed that economic policy was a very effective tool that could be deployed nonviolently to prevent war." Keynesian economics was an attempt to bring a more human scale to industry, international relations, and everyday life. "He's concerned with all of these very big ideas about humanity and how to get along," Carter said. Or, as Goldstein puts it, "I think Keynes would have agreed that the purpose of economics is not to keep unemployment and inflation low and balance your budgets. It's actually to live the good life."Keynes absolutely would have been in favor of adding to the deficit to combat coronavirus with trillions of dollars in stimulus programs, but Carter doesn't think he would have been in favor of indiscriminate spending."He recognized that those big numbers are certainly necessary," Carter said, "but the real test of the program for him would be what's happening in the streets."Using that metric, the most recent stimulus bill was largely a failure. The mood on the street is historically <a href="https://www.cnn.com/2020/06/18/politics/americans-unhappy-polling-analysis/index.html">uncertain and angry</a>. On just about every main commercial street in America, you'll find recently shuttered businesses. Depending on state policy, mass evictions are either happening or they're looming on the horizon. Keynes would not approve.The history books show us what an appropriate Keynesian response looks like."In many ways, the New Deal expresses the full ambition of the Keynesian project," Carter said, because it was "a total reworking of the nation state, and what it can and not to do."In the 19th century, the idea that governments might take a more granular role in the betterment of everyday life for citizens was almost unthinkable. But New Deal-era programs like Social Security, which provided for a good retirement for elderly Americans, to the Works Progress Administration, which put Americans to work creating great works of art and culture, were an extension of Keynes's conception of the human side of economics. Carter argues that decades after World War II, economists eventually forgot about the peaceful, human scale that Keynes brought to economics, remembering only the importance of spending."There were people who called themselves Keynesian in both the Kennedy and Johnson administrations saying, 'the thing we need to do is spend money, and it doesn't really matter so much what we spend it on. We could spend it on napalm and machine guns or we could spend it on welfare checks,'" Carter said. This corruption of Keynesian economics, Carter said, "would have been horrifying to Keynes," and that economic inattention almost certainly paved the way for neoliberal economists to subvert the existing system with an agenda of trickle-down austerity.In the end, Carter said, Keynes was an optimist who "always believed that humanity's problems were made by humanity. They weren't facts of nature that were unalterable. The world could become a better place if we just made it better tomorrow. It could always be better than today." So is this the right time for a reclamation of Keynesian economics? Is there room for his brand of optimism again? If Keynes were alive today, Carter believes he'd see the opportunity to close our massive inequality gap and heal our social unrest as "a project of social harmony."The first step toward building that harmony is coming to the realization that an economy "isn't just math. This is the way societies hang together. This is the way people interact with each other, the way that people who are different come together to do things that they couldn't do apart.'"Too often, we discuss the economy as something separate from the other headlines in the newspaper — the province of logic and numbers and spreadsheets. But perhaps if we took a more holistic, Keynesian understanding of economics, we could bridge the bitter partisan divide and quell the unsettling drumbeat of nationalism by making life more worth living for everyone.

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Blockchain projects around Web3.0 lost over $2 billion to hackers within first 6 months of 2022, says report

IANS

Crypto market loses $670 million in Q2 globally

IANS

FBI says North Korea-backed hackers stole $100 million from crypto firm Harmony's Horizon Bridge

Ryan Hogg

Hackers stole $100 million worth of cryptos from Harmony's blockchain in another blow to digital assets

Brian Evans

Lazarus hackers targeting Apple Mac users with fake job posts

IANS

I tried Starbucks' new Apple Crisp Macchiato, and it's the perfect fall drink for people who think the PSL is too sweet

Anneta Konstantinides

At a time when authoritarianism is on the rise again, the lessons offered by world-renowned economist John Maynard Keynes are more timely than ever

Paul Constant

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