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Central Bank Digital Currencies: Funny Money That Will Destroy What Is Left of Private Property, Free Markets, and Personal Liberty

During the Cold War, the East-West divide was commonly portrayed as pitting communism against capitalism. The Soviet Union, its satellites, and allies operated command economies in which centralized authorities directed the allocation of resources, agricultural production, and industrial manufacturing of the State. The United States and the Western Bloc championed liberal democratic norms and free markets. That division, of course, was always too simplistic. Not only did the US support third-world dictatorships when doing so would produce strategic advantages against the USSR, but also the demarcation between free and controlled markets was never so plainly cut-and-dried.

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