Kish, since you are wondering, is an Iranian island in the Persian Gulf famed for its tourist and shopping attractions. It is becoming a serious rival to other nearby vacation hubs in Doha and Dubai.

Along with pristine beaches and extensive malls, Kish is—or rather ought to be—known more widely for another feature and institution which the Iranian mullahs established there way back in 2003; namely, the Kish Bourse (i.e., Kish Stock Exchange). بورس کیش if you prefer the Farsi.

Following in the footsteps of John Maynard Keynes, most economists hold that one cannot have complete trust in a market economy, which is seen as inherently unstable. If left free, the market economy could lead to self-destruction, hence the need for the government and the central bank to manage the economy. Successful management in the Keynesian framework is done by influencing overall spending.

Central Bank Digital Currencies (CBDCs) are coming. History shows that technology has never been stopped, nor restrained, for a significant length of time.

[Originally published by Law and Liberty.]