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The Limitations of Money Capital in China
I think the most effective international aid is just direct cash assistance, where there's no stipulations like when aid organizations try and guess what people in low income countries need. I want to test the thesis of whether the CBDC would actually know quote unquote, how the money should be spent. My thesis is that you can take into account someone's marginal propensity to consume. The lower your income rate, the higher yourmarginal propensity to consume is. That's why I wanted to target middle and lower class income households because essentially they spend money. They don't spend it on JPGs, Tesla stock or Bitcoin.
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