Pertinent Category: Sound Money Project

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: J.P. Koning

“The Fed and the Crisis: A Reply to Ben Bernanke”

– January 11, 2010

“Federal Reserve Board Chairman Ben Bernanke spent most of his speech to the American Economic Association on Jan. 3 responding to the critique that easy monetary policy during 2002-2005 contributed to the housing boom, to excessive risk taking, and th …

READ MORE

“The Roaring Twenties and the Bullish Eighties”

– January 8, 2010

“There are significant parallels between the Roaring 1920s and the Bullish 1980s. Both decades were characterized by a policy-induced artificial boom that ended with an inevitable bust. The Federal Reserve had a hand in both episodes, keeping the inter …

READ MORE

How the Gold Standard Worked, 1880-1913

– January 6, 2010

“This essay reinterprets the gold standard by applying the monetary theory of the balance of payments to the experience of the two most important countries on it, America and Britain. Before explaining, testing and using the theory in detail, it will b …

READ MORE

“Sound Money the Safeguard of Labor”

– January 6, 2010

“This government is now on a gold basis; that is to say, the nation stands pledged to redeem all its debts or obligations in gold. This is not the result of arbitrary legislation on our part, but a necessity imposed by the demands of trade and commerce …

READ MORE

“Capital Theory, Inflation, and Deflation: The Austrians and Monetary Disequilibrium Theory Compared”

– January 6, 2010

“It can be argued that two apparently divergent macroeconomic schools of thought that have persisted in the history of economics are both part of a larger theoretical view which is capable of meeting most of these criteria. The Austrian theory of the t …

READ MORE

“Another Perspective on the Effects of Inflation Uncertainty”

– January 6, 2010

This paper examines the effects of inflation uncertainty on real economic activityb y utilizing a flexible, dynamic,m ultivariatef rameworkt hata ccom-modates possible interaction between the conditional means and variances. The empirical model is base …

READ MORE

“The Cost of Inflation Revisited”

– January 6, 2010

“Neoclassical treatments of inflation understate the costs associated with inflation, even at very low levels. A comparative institutions perspective that recognizes the epistemological properties of prices and the institutional process by which inflat …

READ MORE

“Stock Returns, Real Activity, Inflation and Money”

– January 6, 2010

“There is much evidence that common stock returns and inflation have been negatively related during the post-1953 period. Zvi Body, Jeffrey Jaffe and Gershon Mandelker, Charles Nelson, and my article with G. William Schwert document negative relations …

READ MORE

Meltdown

– December 16, 2009

“President Obama rammed through his new stimulus bill, warning of an irreversible recession if Congress failed to act. But bestselling author Thomas E. Woods Jr. warns that Obama’s “stimulus package” will do far more damage to our economy than even the …

READ MORE

“No More Central Banks”

– December 16, 2009

“Currency crises have become more and more frequent in part because speculators can mobilize more and more money. A generation ago, central banks, like the U.S. Federal Reserve System, had more money than anyone else and weren’t afraid to use it to pun …

READ MORE

Bernanke is Time’s Person of the Year

– December 16, 2009

Bernanke is Time’s Person of the Year Steve Horwitz The Austrian Economists

READ MORE

Ron Paul: The People’s Champion

– December 16, 2009

Ron Paul talks inflation and economics with CNN.

READ MORE