Given this situation, now is the best opportunity for firms to promote investment in human resources and capital for the purpose of raising labor productivity. In the process of raising labor productivity, there usually is a concern of an increase in unemployment, which is one of the reasons why firms are reluctant to undertake fixed investment, including in software.
Digital currencies, including central bank digital currencies (CBDCs), present opportunities but also risks associated with privacy, illicit activity, and financial stability. The introduction of Bitcoin and the subsequent emergence of stablecoins with potentially global reach, such as Facebook’s Libra, have raised fundamental questions about legal and regulatory safeguards, financial stability, and the role of currency in society.