Privacy, Power, Fiscal Policy, the Poor: Four Reasons to Worry about CBDCs

12/02/2020Wolf von Laer

Central bank digital currencies need to be centralized and manipulable to some extent in order to use them to implement monetary policy, which is central bankers' goal. This characteristic makes them a very risky proposition.

Original Article: "Privacy, Power, Fiscal Policy, the Poor: Four Reasons to Worry about CBDCs".

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Contact Wolf von Laer

Wolf von Laer studies Austrian economics at Rey Juan Carlos University in Spain. He is author of the German book Problems of the Established Central Banking System — Free Banking as an Alternative? and a member of the executive board for European Students for Liberty.