THE CATALYSTS

Wick, a legal consultant and the founder of the global nonprofit Association for Women in Cryptocurrency, looks at factors shaping politics, economics, and finance and offers valuable recommendations for a better future.

The author, a former federal prosecutor who served on the staff of the congressional committee investigating the Jan. 6 insurrection, presents ideas for minimizing inequality and preserving the rule of law against oligarchs and other bad actors. The book includes some references to the committee’s work but focuses largely on Wick’s area of expertise: financial crimes and cryptocurrency. The opening chapters discuss how the modern U.S. and global financial systems came into being, and the central section explores the titular “catalysts”—the political, technological, and sociocultural factors that have put vast amounts of power in the hands of large corporations. In the final section, the author sketches out a plan for combatting authoritarianism and financial upheaval through a networked economic revitalization that employs the blockchain. Although the book looks primarily at the American context for the changes discussed, its observations also address events in the rest of the world, and it embraces a global perspective when it comes to its vision for the future. The work is surprisingly accessible, considering the density of its information—a tribute to Wick’s command of the material and her skill at organizing and presenting her arguments. The prose is occasionally wearing, as Wick often returns to favorite phrases, such as “nothing if not.” However, she also includes thorough citations directing readers to an extensive and comprehensive bibliography. Cryptocurrency skeptics may remain unconvinced of the value of stablecoins or the necessity of developing central bank digital currencies, but novices are sure to walk away with a better understanding of changes due to the rise of the blockchain. Although the book doesn’t address more recent developments, including the gutting of major governmental institutions, it provides a framework for comprehending the actions of the Department of Government Efficiency and looks ahead to a functional political system and economy that values equality and humanity.

A solid argument for embracing new technological developments in the face of global economic change.