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

Gold: The Protector and Creator of Jobs

– December 9, 2009

Gold: The Protector and Creator of Jobs For Sound Money Hugo Salinas Price

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“On the Measurement of Zimbabwe’s Hyperinflation”

– December 9, 2009

“On the Measurement of Zimbabwe’s Hyperinflation” Steve Hanke and Alex Kwok Cato Journal, Vol. 29, No. 2 (Spring-Summer, 2009).

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Money, Bank Credit and Economic Cycles

– December 9, 2009

“The economic analysis of juridical institutions has come to the fore in recent years and promises to become one of the most fruitful spheres of economics. Much of the work completed thus far has been strongly influenced by traditional neoclassical ass …

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What You Should Know About Inflation

– December 9, 2009

What You Should Know About Inflation Henry Hazlitt Excerpt provided by the Ludwig von Mises Institute Complete text found here.

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Theory of Money and Credit

– December 9, 2009

Theory of Money and Credit Ludwig von Mises Copyright 1981 by Liberty Fund Inc. Via the Library of Economics and Liberty

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Economic Myths and Irrelevancy

– December 9, 2009

Economic Myths and Irrelevancy A Minority View by Walter Williams

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The Ethics of Money Production

– December 9, 2009

The Ethics of Money Production J. Guido Hulsmann Copyright 2008 by the Ludwig von Mises Institute

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Fiat Money Inflation in France

– December 9, 2009

Fiat Money Inflation in France: How it came, what brought it and how it ended Andrew Dickinson White New York: D. Appelton & Co., 1896. Via Liberty Fund

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Where’s that Inflation

– December 9, 2009

Inflation is the result of more dollars chasing the same number of (or fewer) goods. As the Nobel laureate Milton Friedman put it, in one of his main contributions to “monetarist” economics, inflation is always and everywhere a monetary phenomenon—that is, it’s caused by an expansion in the supply of money or credit. So why haven’t we seen inflation in 2009? Are we looking in the wrong places, or is it time to update monetarist theory?

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“A Treatise on Money”

– December 9, 2009

“A Treatise on Money” Juan de Mariana via The Acton Institute Journal of Markets & Morality, Vol. 5, No. 2, Fall 2002.

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The Inflation Tax

– December 9, 2009

The Inflation Tax Greg Mankiw’s Blog Greg Mankiw

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1920-21 and the Great Depression

– December 9, 2009

Put differently: the 1920-21 episode was, in fact, a severe, though not particularly long, recession. Allowing the money supply to fall isn’t painless. Allowing the money supply to fall in an environment of severe downward wage rigidity is VERY “not painless.” The 1920-21 episode doesn’t demonstrate that deflation is harmless. It DOES demonstrate that if you have deflation, it will be less bad if you have nominal wages that are flexible downward. That recession is the best example of why Hoover’s wage policies were such a mistake.

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