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The Harwood Economic Review
Fall 2017

Table of Contents

Is Blockchain the Future of Freedom?
Max Gulker

Prospects for a Digital Gold-Backed Currency
Theodore Cangero

Decision Time for Bitcoin
Patrick Coate

Bitcoin: Decentralized Governance Put to the Test
Max Gulker

HarwoodEconomicReviewFall2017

AIER Staff

Founded in 1933, the American Institute for Economic Research (AIER) is one of the oldest and most respected nonpartisan economic research and advocacy organizations in the country. With a global reach and influence, AIER is dedicated to developing and promoting the ideas of pure freedom and private governance by combining advanced economic research with accessible media outreach and educational programming to cultivate a better, broader understanding of the fundamental principles that enable peace and prosperity around the world.

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Theodore Cangero

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Max Gulker

Max Gulker

Max Gulker is an economist and writer who joined AIER in 2015 and left in 2020. His research focused on two main areas: policy and technology. On the policy side, Gulker looked at how issues like poverty and access to education can be addressed with voluntary, decentralized approaches that don’t interfere with free markets. On technology, Gulker was interested in emerging fields like blockchain and cryptocurrencies, competitive issues raised by tech giants such as Facebook and Google, and the sharing economy.

Gulker frequently appears at conferences, on podcasts, and on television. Gulker holds a PhD in economics from Stanford University and a BA in economics from the University of Michigan. Prior to AIER, Max spent time in the private sector, consulting with large technology and financial firms on antitrust and other litigation. Follow @maxgAIER.

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Patrick Coate, PhD

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