Revolutionizing Money: Direct Access and CBDCs

This chapter explores Marxian interpretations of money, focusing on its role in payment systems and the effects of current monetary policies. It proposes a direct account system with the Federal Reserve for individuals and businesses, discussing the implications for financial inclusion and efficiency. The chapter also examines the potential of retail Central Bank Digital Currencies (CBDCs), their relationship with traditional banks, and the political challenges that might arise from their implementation.