#buildbanksbetter: Central Bank Digital Currencies (CBDCs), Public Banks and Money’s Potential as a Non-Scarce Medium of Communication and a Source of Local Self-Determination

Author:

Tiessen Matthew

Abstract

This paper argues that public banking at the local and community level is the most effective monetary technology for restoring the powers of finance to the people. Public banking is not a new idea and it’s enjoying newfound popularity alongside the rise of modern monetary theory (MMT) and the emergence of a new generation of financially aware and digitally enabled researchers, “conspiracy theorists” and activists. So while these days cryptocurrencies are trumpeted as the cutting edge of alternative monetary technologies, I suggest that public banking is the money technology best able to respond to the democratic desires of today’s citizens. I conclude with a discussion of the development of Central Bank Digital Currencies (CBDCs) and the ways they are being used to undermine local, community-led self-determination by further centralizing monetary control in the centrally controlled system of central banks whose mandate is to serve private interests.

Publisher

University of Toronto Press Inc. (UTPress)

Subject

Industrial and Manufacturing Engineering

Reference119 articles.

1. Abrahamian, Atossa Araxia. 2017. “The Rock-Star Appeal of Modern Monetary Theory: The Sanders Generation and a New Economic Idea.” The Nation. https://www.thenation.com/article/archive/the-rock-star-appeal-of-modern-monetary-theory/

2. Adrian, Tobias. (May 14, 2019). “Stablecoins, Central Bank Digital Currencies, and Cross-Border Payments: A New Look at the International Monetary System.” IMF. https://www.imf.org/en/News/Articles/2019/05/13/sp051419-stablecoins-central-bank-digital-currencies-and-cross-border-payments.

3. Alcoba, Natalie. 2011. “Bank of Toronto for the People.” National Post. https://nationalpost.com/posted-toronto/bank-of-toronto-for-the-people.

4. Public banks and financial stability

同舟云学术

1.学者识别学者识别

2.学术分析学术分析

3.人才评估人才评估

"同舟云学术"是以全球学者为主线,采集、加工和组织学术论文而形成的新型学术文献查询和分析系统,可以对全球学者进行文献检索和人才价值评估。用户可以通过关注某些学科领域的顶尖人物而持续追踪该领域的学科进展和研究前沿。经过近期的数据扩容,当前同舟云学术共收录了国内外主流学术期刊6万余种,收集的期刊论文及会议论文总量共计约1.5亿篇,并以每天添加12000余篇中外论文的速度递增。我们也可以为用户提供个性化、定制化的学者数据。欢迎来电咨询!咨询电话:010-8811{复制后删除}0370

www.globalauthorid.com

TOP

Copyright © 2019-2024 北京同舟云网络信息技术有限公司
京公网安备11010802033243号  京ICP备18003416号-3