Dana M. Galbraith

Dana M. Galbraith writes about what the monetary architecture looks like from the bottom of the capital pyramid. Every other fellow at the Cantillon Institute analyzes the stablecoin payment layer from the perspective of institutional capital; what it means for pension funds, sovereign wealth, trust structures, insurance books, and central bank transmission. Galbraith analyzes it from the perspective of the worker who receives wages in stablecoins, the consumer who uses programmable money for everyday transactions, and the gig economy participant who is simultaneously being classified out of labor protections and into a payment infrastructure that those protections were never designed to cover.

This is not a political position. It is an analytical frame that the existing literature has largely ignored because the existing literature is written by and for institutional capital. The distributional consequences of the stablecoin payment layer are not incidental to its design. They are, in Galbraith's analysis, among its primary intended features.

Galbraith writes from Chicago. American English throughout. The argument is built from the ground up rather than from institutional frameworks down.