Yesterday's controversies for tomorrow's money

Romain Baeriswyl

No 2026-10, Working Papers from Swiss National Bank

Abstract: While money has evolved from natural commodities to digital tokens, the debate about the ideal money has remained the same throughout the ages. Historical controversies about the origin, nature, and double-spending of money offer valuable insights for navigating the new forms of money tokens such as cryptocurrencies, central bank digital currencies and stablecoins.

Keywords: Natural law of money; State theory of money; Economic good theory of money; Credit theory of money; Double-spending of money (search for similar items in EconPapers)
JEL-codes: E40 E42 E50 (search for similar items in EconPapers)
Pages: 46 pages
Date: 2026
New Economics Papers: this item is included in nep-cba, nep-his, nep-hpe, nep-mon and nep-pay
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Persistent link: https://EconPapers.repec.org/RePEc:snb:snbwpa:2026-10

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