Harwood Economic Review
Table of Contents
Assessing Potential for Higher Inflation
James L. Caton
Monetary Control: Central Banks Today
Alexander William Salter
Inflation Is a Dangerous Way to Get Rid of Debt Burden
Richard M. Ebeling
War of Words Over Inflation Stirs Questions for the Fed
Problems of Federal Reserve Policy—and How to Solve Them
Thomas L. Hogan
The Horrors of Hyperinflation
Robert E. Wright
Sound Money Still Matters
Peter C. Earle
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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.
Richard M. Ebeling, an AIER Senior Fellow, is the BB&T Distinguished Professor of Ethics and Free Enterprise Leadership at The Citadel, in Charleston, South Carolina.
Ebeling lived on AIER’s campus from 2008 to 2009.
Books by Richard M. Ebeling
Thomas L. Hogan, Ph.D., is senior research faculty at AIER. He was formerly the chief economist for the U.S. Senate Committee on Banking, Housing and Urban Affairs. He has also worked at Rice University’s Baker Institute for Public Policy, Troy University, West Texas A&M University, the Cato Institute, the World Bank, Merrill Lynch’s commodity trading group and for investment firms in the U.S. and Europe.
Dr. Hogan’s research has been published in academic journals such as the Journal of Macroeconomics and the Journal of Money, Credit and Banking. He has appeared on programs such as BBC World News, Stossel TV, and Bloomberg Radio and has been quoted by news outlets including CNN Business, American Banker, and the National Review.
“Bank Lending and Interest on Excess Reserves: An Empirical Investigation,” Journal of Macroeconomics, Forthcoming.
“The Calculus of Dissent: Bias and Diversity in FOMC Projections,” Public Choice 19: 105-135 (2022).
“Hayek, Cassel, and the Origins of the Great Depression,” (with Lawrence H. White) Journal of Economic Behavior & Organization, 181: 241-251 (2021).
“Has Dodd-Frank Affected Bank Expenses?” (with Scott Burns) Journal of Regulatory Economics, 55(2): 214–236 (2019).
“Ben Bernanke and Bagehot’s Rules” (with Linh Le and Alexander William Salter) Journal of Money, Credit & Banking 47(2-3): 333-348 (2015).
Alexander William Salter is the Georgie G. Snyder Associate Professor of Economics in the Rawls College of Business and the Comparative Economics Research Fellow with the Free Market Institute, both at Texas Tech University. He is a co-author of Money and the Rule of Law: Generality and Predictability in Monetary Institutions, published by Cambridge University Press. In addition to his numerous scholarly articles, he has published nearly 300 opinion pieces in leading national outlets such as the Wall Street Journal, National Review, Fox News Opinion, and The Hill.
Salter earned his M.A. and Ph.D. in Economics at George Mason University and his B.A. in Economics at Occidental College. He was an AIER Summer Fellowship Program participant in 2011.
James L. Caton is an Assistant Professor in the Department of Agribusiness and Applied Economics and a Fellow at the Center for the Study of Public Choice and Private Enterprise at North Dakota State University. His research interests include agent-based simulation and monetary theories of macroeconomic fluctuation. He has published articles in scholarly journals, including The Southern Economic Journal, the Journal of Entrepreneurship and Public Policy, and the Journal of Artificial Societies and Social Simulation. He is also the co-editor of Macroeconomics, a two-volume set of essays and primary sources in classical and modern macroeconomic thought.
Caton earned his Ph.D. in Economics from George Mason University, his M.A. in Economics from San Jose State University, and his B.A. in History from Humboldt State University.
Peter C. Earle is an economist and writer who joined AIER in 2018. Prior to that he spent over 20 years as a trader and analyst at a number of securities firms and hedge funds in the New York metropolitan area, as well as running a gaming and cryptocurrency consultancy.
His research focuses on financial markets, cryptocurrencies, monetary policy-related issues, the economics of games, and problems in economic measurement. He has been quoted by the Wall Street Journal, Bloomberg, Reuters, CNBC, Grant’s Interest Rate Observer, NPR, and in numerous other media outlets and publications.
Pete holds an MA in Applied Economics from American University, an MBA (Finance), and a BS in Engineering from the United States Military Academy at West Point. Follow him on Twitter.
“General Institutional Considerations of Blockchain and Emerging Applications” Co-Authored with David M. Waugh in The Emerald Handbook on Cryptoassets: Investment Opportunities and Challenges (forthcoming), edited by Baker, Benedetti, Nikbakht, and Smith (2022)
“Operation Warp Speed” Co-authored with Edwar Escalante in Pandemics and Liberty (forthcoming), edited by Raymond J. March and Ryan M. Yonk (2022)
“A Virtual Weimar: Hyperinflation in Diablo III” in The Invisible Hand in Virtual Worlds: The Economic Order of Video Games, edited by Matthew McCaffrey (2021)
“The Fickle Science of Lockdowns” Co-authored with Phillip W. Magness, Wall Street Journal (December 2021)
“How Does a Well-Functioning Gold Standard Function?” Co-authored with William J. Luther, SSRN (November 2021)
“Populist Prophets, Public Prophets: Pied Pipers of Lucre, Then and Now” in Financial History (Summer 2021)
“Boston’s Forgotten Lockdowns” in The American Conservative (November 2020)
“Private Governance and Rules for a Flat World” in Creighton Journal of Interdisciplinary Leadership (June 2019)
“’Federal Jobs Guarantee’ Idea Is Costly, Misguided, And Increasingly Popular With Democrats” in Investor’s Business Daily (December 2018)
Books by Peter C. Earle
Robert E. Wright is a Senior Research Fellow at the American Institute for Economic Research. He is the (co)author or (co)editor of over two dozen major books, book series, and edited collections, including AIER’s The Best of Thomas Paine (2021) and Financial Exclusion (2019). He has also (co)authored numerous articles for important journals, including the American Economic Review, Business History Review, Independent Review, Journal of Private Enterprise, Review of Finance, and Southern Economic Review. Robert has taught business, economics, and policy courses at Augustana University, NYU’s Stern School of Business, Temple University, the University of Virginia, and elsewhere since taking his Ph.D. in History from SUNY Buffalo in 1997.
- Reducing Recidivism and Encouraging Desistance: A Social Entrepreneurial Approach of Journal of Entrepreneurship and Public Policy (Summer 2022).
- “The Political Economy of Modern Wildlife Management: How Commercialization Could Reduce Game Overabundance.” Independent Review (Spring 2022).
- “Sowing the Seeds of a Future Crisis: The SEC and the Emergence of the Nationally Recognized Statistical Rating Organization (NRSRO) Category, 1971-75.” Co-authored with Andrew Smith. Business History Review (Winter 2021).
- “AI ≠ UBI Income Portfolio Adjustment to Technological Transformation.” Co-authored with Aleksandra Przegalinska. Frontiers in Human Dynamics: Social Networks (2021).
- “Liberty Befits All: Stowe and Uncle Tom’s Cabin.” Independent Review (Winter 2020).
- “Pioneer Financial News National Broadcast Journalist Wilma Soss, NBC Radio, 1954-1980.” Journalism History (Fall 2018).
- “Devolution of the Republican Model of Anglo-American Corporate Governance.” Advances in Financial Economics (2015).
- “The Pivotal Role of Private Enterprise in America’s Transportation Age, 1790-1860.” Journal of Private Enterprise (Spring 2014)
- “Corporate Insurers in Antebellum America.” Co-authored with Christopher Kingston. Business History Review (Autumn 2012).
- “The Deadliest of Games: The Institution of Dueling.” Co-authored with Christopher Kingston. Southern Economic Journal (April 2010).
- “Alexander Hamilton, Central Banker: Crisis Management During the U.S. Financial Panic of 1792.” Co-authored with Richard E. Sylla and David J. Cowen. Business History Review (Spring 2009).
- “Integration of Trans-Atlantic Capital Markets, 1790-1845.” Co-authored with Richard Sylla and Jack Wilson. Review of Finance (December 2006), 613-44.
- “State ‘Currencies’ and the Transition to the U.S. Dollar: Clarifying Some Confusions.” Co-authored with Ron Michener. American Economic Review (June 2005).
- “Reforming the U.S. IPO Market: Lessons from History and Theory,” Accounting, Business, and Financial History (November 2002).
- “Bank Ownership and Lending Patterns in New York and Pennsylvania, 1781-1831.” Business History Review (Spring 1999).
- SSRN: https://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=362640
- ORCID: https://orcid.org/0000-0003-3792-3506
- Academia: https://robertwright.academia.edu/
- Google: https://scholar.google.com/citations?user=D9Qsx6QAAAAJ&hl=en&oi=sra
- Twitter, Gettr, and Parler: @robertewright