Research at AIER
AIER is a leader in the creation, dissemination, and promotion of top-tier academic research. Our research encompasses a variety of disciplines including monetary economics, political economy, and defending freedom against collectivism. AIER’s academic scholarship is influential in shaping public opinion as well as informing debates on regulation and public policy.
The AIER research faculty includes resident scholars at our main campus in Great Barrington, Massachusetts as well as a network of nonresident affiliate faculty at other institutions. Our resident faculty have published in leading academic journals and top university presses.
AIER scholars excel not only in the creation of original academic research but also in sharing ideas with the public. We promote current research by resident and nonresident scholars through our Sound Money working paper series and our Public Choice and Public Policy working paper series, both of which are freely available online. This research is often discussed in our quarterly publication the Harwood Economic Review and our Daily Economy articles as well as in leading media outlets such as the Wall Street Journal, the New York Times, Politico, Newsweek, National Review, and Reason Magazine.
Monetary policy influences inflation, employment, and economic activity. A stable but dynamic monetary system is vital for supporting economic growth, individual liberty, and a prosperous society. Therefore, we examine the causes and consequences of monetary policy (including inflation), identify ideal and practical steps towards a better monetary policy regime, and look at monetary alternatives and financial regulation.
People

Thomas L. Hogan
Thomas L. Hogan, Ph.D., is senior research faculty at AIER. He was formerly the chief economist for the U.S. Senate Committee on Banking, Housing and Urban Affairs. He has also worked at Rice University’s Baker Institute for Public Policy, Troy University, West Texas A&M University, the Cato Institute, the World Bank, Merrill Lynch’s commodity trading group and for investment firms in the U.S. and Europe. Dr. Hogan’s research has been published in academic journals such as the Journal of Macroeconomics and the Journal of Money, Credit and Banking. He has appeared on programs such as BBC World News, Stossel TV, and Bloomberg Radio and has been quoted by news outlets including CNN Business, American Banker, and the National Review.
Research Publications for Monetary Economics
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Comment on Docket No. OP-1793,’Principles for Climate-Related Financial Risk Management for Large Financial Institutions’
Authors: TL Hogan
Publication: OP-1793,'Principles for Climate-Related Financial Risk Management for Large …, 2023
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General Institutional Considerations of Blockchain and Emerging Applications
Authors: PC Earle, DM Waugh
Publication: The Emerald Handbook on Cryptoassets: Investment Opportunities and …, 2023
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Cryptocurrencies, Blockchain, and Public Choice
Authors: RM Yonk, D Waugh
Publication: Cryptocurrency Concepts, Technology, and Applications, 2023
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Stephanie Kelton, The Deficit Myth: Modern Monetary Theory and the Birth of the People’s Economy. New York: public affairs, 2020. Xi +325 pages. 30.00 USD …
Authors: TL Hogan
Publication: The Review of Austrian Economics, 1-4, 2022
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Inflation, Tangential Goals, and the Fed’s Dual Mandate
Authors: TL Hogan
Publication: Cato Institute, 2022
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Cash, crime, and cryptocurrencies
Authors: JR Hendrickson, WJ Luther
Publication: The Quarterly Review of Economics and Finance 85, 200-207, 2022
A free and prosperous society requires a functioning market economy at its foundation. Using a broad array of tools drawn from price theory, public choice analysis, Austrian theory, and classical empiricism, our study of economics and economic freedom explores the underpinnings of the market system, the roots of economic prosperity, and emerging threats to the same in the public policy sphere. Our work includes the measurement of freedom and providing practical economic information for people to make better decisions.
People

Jason Sorens
Jason Sorens, Ph.D., is Senior Research Faculty at AIER. He is also Principal Investigator on the forthcoming New Hampshire Zoning Atlas. Jason was formerly the director of the Center for Ethics in Society at Saint Anselm College. He has researched and written more than 20 peer‐reviewed journal articles, a book for McGill‐Queens University Press titled Secessionism, and a biennially revised book for the Cato Institute, Freedom in the 50 States (with William Ruger). His research is focused on housing policy and land-use regulation, U.S. state politics, fiscal federalism, and movements for regional autonomy and independence around the world. He has taught at Yale, Dartmouth, and the University at Buffalo and twice won awards for best teaching in his department. He lives in Amherst, New Hampshire.
Research Publications for Economics and Economic Freedom
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Regulatory Decentralization and Stringency: The Case of Comparative Minimum Wage and Renewable Energy Policies
Authors: J Sorens
Publication: Publius: The Journal of Federalism 53 (1), 55-81, 2023
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Gordon Tullock and the Economics of Slavery
Authors: P Magness, A Carden, I Murtazashvili
Publication: Available at SSRN 4318585, 2023
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Achieving Ecological Reflexivity: The Limits of Deliberation and the Alternative of Free-Market-Environmentalism
Authors: J Enninga, RM Yonk
Publication: Sustainability 15 (8), 6396, 2023
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General Institutional Considerations of Blockchain and Emerging Applications
Authors: PC Earle, DM Waugh
Publication: The Emerald Handbook on Cryptoassets: Investment Opportunities and …, 2023
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The History and Evolution of the North American Wildlife Conservation Model
Authors: RE Wright
Publication: Palgrave Macmillan, 2022
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Marie Springer: The politics of Ponzi schemes: history, theory, and policy: Routledge, 2020
Authors: RE Wright
Publication: Business Economics 57 (2), 89-91, 2022
Against collectivist impulses, the defense of freedom, personal responsibility, and the moral, political, legal, and economic foundations of a free society is ever necessary. Protecting the American experiment in ordered liberty is a debt that we owe to the past, and a challenge to pursue in the future. We examine the following issues in this area: the case for free trade vs. protectionism, individualism vs. the new collectivists (DEI/Critical Theory/Marxism/Social Democracy/Economic Nationalism/etc.), shareholder capitalism vs. ESG and stakeholder capitalism, foreign policy for a free society, and the foundations and first principles of freedom and free markets.
People

Samuel Gregg
Samuel Gregg is Distinguished Fellow in Political Economy and Senior Research Faculty at the American Institute for Economic Research. He has a D.Phil. in moral philosophy and political economy from Oxford University, and an M.A. in political philosophy from the University of Melbourne. He has written and spoken extensively on questions of political economy, economic history, monetary theory and policy, and natural law theory. He is the author of sixteen books, including On Ordered Liberty (2003), The Commercial Society (2007), Wilhelm Röpke’s Political Economy (2010); Becoming Europe (2013); Reason, Faith, and the Struggle for Western Civilization (2019); The Essential Natural Law (2021); and The Next American Economy: Nation, State and Markets in an Uncertain World (2022). Two of his books have been short-listed for Conservative
Research Publications for Defending Freedom, Fighting Collectivism
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Gordon Tullock and the Economics of Slavery
Authors: P Magness, A Carden, I Murtazashvili
Publication: Available at SSRN 4318585, 2023
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Cryptocurrencies, Blockchain, and Public Choice
Authors: RM Yonk, D Waugh
Publication: Cryptocurrency Concepts, Technology, and Applications, 2023
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AI ≠ UBI: Income Portfolio Adjustment to Technological Transformation
Authors: RE Wright, A Przegalinska
Publication: Augmented Education in the Global Age: Artificial Intelligence and the …, 2023
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The Dangers of Democracy
Authors: RE Wright
Publication: The History and Evolution of the North American Wildlife Conservation Model …, 2022
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The Mainstreaming of Marx: Measuring the Effect of the Russian Revolution on Karl Marx’s Influence
Authors: P Magness, M Makovi
Publication: Journal of Political Economy, 2022
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Cash, crime, and cryptocurrencies
Authors: JR Hendrickson, WJ Luther
Publication: The Quarterly Review of Economics and Finance 85, 200-207, 2022