Systems of Value: who's money is it anyway?
The Monopoly on Money: A Critique of David McWilliams ’ Economic Narrative What is money? If you listen to renowned Irish economist and broadcaster David McWilliams, money is not a rigid fiscal tool, but the ultimate human storytelling device. It is a shared social technology that allows us to organize, trade, and collectively manifest the future. But while McWilliams treats money as an epic human narrative, he draws a sharp line in the sand when it comes to who gets to tell that story. As a former central banker, McWilliams firmly believes that money must remain the exclusive purview of the democratic state. I think that perspective is fundamentally flawed—and it misses the very essence of how human value works. The McWilliams Thesis : Why He Rejects Crypto and Defends Fiat In his books and podcast episodes, McWilliams routinely argues that cryptocurrency is not real money. He frames it as a private, speculative asset—a high-stakes gambling game driven by hype. His core arguments agai...
