Friday 19 January 2024

Paul Mills on the Future of Money

Cambridge Papers are published once a quarter and address a wide range of topics, offering ‘Christian reflection on contemporary issues’.

The latest paper is available online here (from where a pdf can be downloaded here):

Paul Mills, ‘Cashing Out? Biblical Thoughts on the Future of Money’, Cambridge Papers 32, 4 (December 2023).

Here is the summary:

‘Monetary systems are innovating rapidly yet also losing the public’s trust. Given that trust (and government solvency) are critical to the survival of banks, recent bank failures may presage the transition to a new monetary paradigm. The Bible’s pointers to the features of a desirable monetary system are used to assess the merits or otherwise of the challengers to the status quo – notably cryptocurrencies and Central Bank Digital Currencies. The latter, in particular, raise a number of concerns regarding governmental surveillance and control.’

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