1,5 min read –
Cintasia Summer Mini-Series 2026 Edition –
Money, Politics & Technology –
Episode 3 –
This summer, let’s take a short break from industrial topics to explore one fundamental question shaping our world.
In this edition, we discuss over 4 short episodes :
• Episode 1 – Why Indonesia’s Central Bank Governor Resigned
• Episode 2 – Are Central Banks Really Independent?
• Episode 3 – Should Money Be Separated from the State?
• Episode 4 – The Technology That Changed Money Forever
⬇️ Episode 3
Should Money Be Separated from the State?
For centuries, societies have tried to separate different forms of power.
In France, the formal separation of Church and State in 1905 followed decades of debate and political tension.
Whether one agrees with every consequence or not, the objective was clear: preventing one institution from exercising excessive influence over another.
Could the same reasoning one day apply to money?
Today, governments legislate, tax, borrow, and spend. Central banks manage the monetary system.
Although their independence is protected by law in many countries, the relationship between fiscal and monetary policy remains closely intertwined, especially during crises.
This has led some economists and philosophers to ask a key question:
Should money itself become politically neutral?
Supporters argue that a monetary system beyond direct political control could reduce currency manipulation, limit excessive money creation, impose greater fiscal discipline, and make financing large public deficits or prolonged conflicts more difficult.
Critics respond that governments need monetary flexibility to respond to recessions, banking crises, pandemics, or wars.
Without it, they argue, economic shocks could become even more severe.
This debate is not new. Hayek himself imagined and promoted competing private currencies almost fifty years ago.
What is new is that, since 2009, technology has made such an idea technically possible for the first time in human history.
Do you know the name of this technology?
I’ll reveal the answer and explain why it is already reshaping our understanding of money in my next post, episode 4.
Do you think Money should be separated from the State?
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