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
Senior Fellows: Nicolás Cachanosky, Gerald P. DwyerJoshua R. Hendrickson, Thomas L. Hogan, Gerald P. O’Driscoll, Jr., Alexander W. Salter
Fellows: James L. Caton, J.P. Koning

“Greece’s Threat to the Euro”

– April 28, 2010

“All too often in the midst of an economic and financial crisis, policymakers either engage in denial or else take flights into fantasy. Sadly, the present Greek crisis is proving to be no exception. Rather than recognising the Greek crisis for the sol …

READ MORE

“The Limits of Monetary Policy”

– April 28, 2010

“History has shown that monetary stability—money growth consistent with a stable and predictable value of money—is an important determinant of economic stability. Safeguarding the long-run purchasing power of money is also essential for the future of p …

READ MORE

“The Case for Auditing the Fed is Obvious”

– April 28, 2010

“Recently, the Federal Reserve has significantly altered the procedures and goals that it had followed for decades. It has more than doubled its balance sheet, paid interest to banks on reserves held as deposits with the Fed, made decisions about which …

READ MORE

“The Early Word: Financial Fights”

– April 28, 2010

“Senate Democrats will try for the third consecutive day to bring a financial overhaul to the floor for debate, after Republicans twice blocked such attempts. Like clockwork, Republicans are expected to block the bill once more. It’s probably not the w …

READ MORE

Wolf and Krugman Discuss Austrian Economics

– April 28, 2010

Martin Wolf (Financial Times) and Paul Krugman (New York Times) discuss Austrian economics.

READ MORE

“The Free-Coinage Scheme is Impracticable at Every Point”

– April 27, 2010

“The amount of circulating cash of all kinds in the hands of the people at the present time is about nine hundred millions. If the dollar was reduced to half its present value, and if allowance was made for reserves, two thousand million silver dollars …

READ MORE

Lessons from the History of Financial Regulation

– April 27, 2010

Charles W. Calomiris, who is Professor of Financial Institutions at Columbia Business School and a visiting scholar at the American Enterprise Institute, has recently published a paper on the lessons that can be drawn from the history of financial regu …

READ MORE

Overdose – Documentary on the Financial Crisis

– April 27, 2010

On May 17, the Cato Institute will host a premiere of a new documentary on the financial crisis–Overdose. The trailer can be seen here. The documentary is based upon Swedish writer Johan Norberg’s book Financial Fiasco. Cato describes Overdose as foll …

READ MORE

“Inflation May Not Be Kind to the Stock Market”

– April 26, 2010

“Investors seem to see inflation as no big deal, or maybe even a good thing. But they forget how inflation killed the stock market in the 1970s… and just how easily those conditions could return. Federal Reserve Chairman Ben S. Bernanke is now seen as …

READ MORE

“Greece Formally Requests EU/IMF Aid”

– April 23, 2010

“Prime Minister George Papandreou said Friday that ‘the time has come’ for Greece to request aid under a joint European-International Monetary Fund bailout mechanism following months of turmoil in Greek financial markets. ‘The time has come,’ Papandreo …

READ MORE

Deflating China’s Bubble

– April 23, 2010

Reining in China’s investment boom will be hard. The Chinese authorities are damned if they do and damned if they don’t.

READ MORE

In a Culture of Excess, the Fat Cats will Rule

– April 23, 2010

“Free market economists are not necessarily defenders of business. Crony capitalism has a long history. Mercantilism was a form of crony capitalism, and was the main target of Adam Smith’s critical abilities. And while modern Smithians understand how i …

READ MORE