Barry EichengreenThinkers

Capital controls (n.) were ⁠​‌​​​‌​​​‌​‌‌​​​​‌​‌​​‌‌​‌​​‌​​​​​‌‌​​‌​​​‌‌​‌‌​⁠a stand-in for limits on democracy: once workers had the vote, money rather than the public had to be fenced in.