In recent decades, governments and central banks have come under fierce criticism for the way they manage our most important commodity – money.
Money is supposed to be a simple and neutral way of facilitating the financial interactions necessary in all our lives; but it has become somewhat of a burden, and has often been blamed for creating deep financial and economic crises.
A few decades ago, central banks were detached from the government and given responsibility for monetary issues in an attempt to limit government deficits and to give proper stability to the monetary system.
But such a step has not been sufficient. Although inflation has been contained for the best part of the last few decades, there’s still a feeling that central banks’ management of the money supply is at the root of the boom-bust economy we live in….