Money isn't automatically capital. Money that makes more money is. Capital controls mean in practice that selling and buying of companies or shares across bord

Money isn't automatically capital. Money that makes more money is. Capital controls mean in practice that selling and buying of companies or shares across borders is limited. Cross-border capital ownership was quite rare pre WW1 (in current form, colonialism is quite different), so there was little need for control. Bretton Woods collapsed largely due to US plundering the gold to fund the Vietnam war and switching to the petrodollar system. Balancing payments worked fine with capital controls. Some trade (e.g. between Finland and USSR) was even done without currency, but most of course with just money. Few probably support removing limited liability overnight, like few support overnight ban on fossil fuels. There are plenty of companies with no limited liability in LLC sense. Many small businesses are not LLCs or the owner has personal collateral as liability. I'm not really a big government type. I just prefer democracy to plutocracy. I don't find nation-state representational democracies that great, but it's best we have for now on large scale.