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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. 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, Lawrence H. White
Director: William J. Luther
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Fellows: J.P. Koning
“Prolonged inflation never “stimulates” the economy. On the contrary, it unbalances, disrupts, and misdirects production and employment. Unemployment is mainly caused by excessive wage rates in some industries, brought about either by extortionate unio …
READ MORE“In light of Bernanke’s plans to purchase $600 billion of longer-term government debt, many academic economists are beginning to worry: Could the Federal Reserve itself become insolvent? In this article I’ll explain these fears and I’ll argue that the …
READ MOREOur friends over at the Independent Institute are helping you find out just how much the U.S. government is costing you. Visit MyGovCost.org to access your Government Cost Calculator!
READ MORE“The question of China’s artificially low interest rates and currency and its effects on economies will be left for another day. However, we would like to call your attention to the always interesting China Hush pictorial on what 100 yuan (~$15) will b …
READ MORE“Sure, buying and selling government debt in the open-market is how central banks control short-term interest rates. That’s why the Fed Funds rate is a target, and the actual outcome in the marketplace is instead known as the Effective Fed Funds. Biddi …
READ MORE“We are entering an era of high inflation, to judge by the massive growth of the money supply in the United States, Europe and Asia, and the stubbornness of central bankers who insist that high unemployment demands the creation of even more money. The …
READ MORE“The dance of the dollar counts — and it counts a lot. With few exceptions, when the dollar weakens against the euro, commodity prices soar, and when the dollar soars against the euro, commodity prices plunge. Every commodity trader knows the importanc …
READ MORE“Of course, the inflation any individual faces almost surely differs from the government’s aggregate data. Outside of housing, middle-income consumers have experienced more inflation than other income groups over the past year, in part because they dev …
READ MORE“The sudden increase in capital investments would create jobs and encourage economic growth, which would then make it possible to weather the interest rate hikes the Fed would inevitably adopt to keep inflation from getting out of hand. That’s the theo …
READ MORE“Last year the consensus opinion was that we are all Keynesians now. Virtually everyone in the commentariat believed that John Maynard Keynes’s solution for the Great Depression—heavy government spending to resuscitate the economy—was also the answer t …
READ MORE“China and Russia have decided to renounce the US dollar and resort to using their own currencies for bilateral trade, Premier Wen Jiabao and his Russian counterpart Vladimir Putin announced late on Tuesday. Chinese experts said the move reflected clos …
READ MORE“We may all be Austrians now. Not since the New Deal has Austrian economics enjoyed the political popularity it does now. Austrian economists are awfully popular with the Republican Party, especially its Tea Party wing. Peter Schiff, the Austrian econo …
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