CBDCs: Going in the wrong direction

Too much focus on the technology distracts attention from the considerable financial, economic, social and political risks.

This is a slightly amended version of a talk I gave at the Institute of International Monetary Research’s conference at the University of Buckingham on 18th October 2023.

In any discussion of digital currencies, the technology always takes centre stage, and the financial, economic, social and political implications are lucky even to get a cameo appearan…