The Sound Money Project was founded in January 2009 to conduct research and promote awareness about monetary stability and financial privacy. The project is comprised of leading academics and practitioners in money, banking, and macroeconomics. It offers regular commentary and in-depth analysis on monetary policy, alternative monetary systems, financial markets regulation, cryptocurrencies, and the history of monetary and macroeconomic thought. The Sound Money Project also hosts an annual essay contest. For the latest on sound money issues, subscribe to our working paper series and follow along on Twitter or Facebook.
Advisory Board: Steve H. Hanke, Jerry L. Jordan, Gerald P. O’Driscoll, Jr., Lawrence H. White
Director: William J. Luther
Senior Fellows: Gerald P. Dwyer, Joshua R. Hendrickson
Fellows: Scott A. Burns, James L. Caton, Nicolás Cachanosky, Judge Glock, Alexander W. Salter
Contributors: Brian C. Albrecht, J.P. Koning
Hidden Intervention: Political Motivations Driving Fed Policy
The Federal Reserve is subsidizing the Treasury. The apparent trouble in overnight markets appears to have provided an excuse to quietly reengage in the now decade-old program of support.
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The Gamification of Bitcoin
It’s possible that bitcoin-as-game will stay popular for a very long time. And if it does, that could be a good thing.
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The Ideal Money Is Global
The optimal currency area is the maximum currency area.
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Krugman’s Zombie Idea: We Owe It to Ourselves
Paul Krugman claims that the national debt doesn’t matter because “we owe it to ourselves.” This “zombie idea” is dead wrong.
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The IMF and Argentina: Same Dance, Same Results
Aid from the IMF and other organizations might even make matters worse by shielding policy makers from the consequences of their policies.
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Banking Unbanked Bitcoiners
For now, volatility and lack of user-friendliness have limited the ability of cryptocurrencies to reach the populations of unbanked and debanked.
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Nigeria’s Cash Tax Is a Bad Idea
Nigeria is one of Africa’s most influential nations. But other African countries should think twice before emulating its costly cash policy.
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The Fed Should Not Paper Over the President’s Policy Errors
Printing money cannot dry up a flood or produce more rainfall in a drought. And it cannot fix the very real problems that result from a trade war.
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Federal Reserve’s “Independence” Masquerade
Chairman Powell’s ideal operating environment most likely looks the same as every other Fed chair’s operating environment: one where the Fed is left alone to treat the economy like a Lego set.
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The Most Dangerous Idea in Central Banking
Progressives like Yglesias recognize the danger of money in politics. They should consider the danger of politics in money, as well. And not just when it suits their interests.
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