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. The Sound Money Project also hosts an annual essay contest. 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. JordanGerald P. O’Driscoll, Jr., Lawrence H. White
Director: William J. Luther
Senior Fellows: Joshua R. Hendrickson
Fellows: Scott A. Burns, James L. Caton, Nicolás Cachanosky, Judge GlockAlexander W. Salter
Contributors: Brian C. Albrecht, J.P. Koning

Wednesday, October 10th, 2018

The fourth issue of the AIER Sound Money Project Working Paper Series is available online. AIER is currently ranked 149th on SSRN's Top 1,600 Entrepreneurship Research & Policy Network Organizations.

Wednesday, October 10th, 2018

Ten years after the 2008 financial crisis, economists are beginning to assess the lessons learned. Sometimes we learn the right lessons. Sometimes we learn the wrong lessons.

Tuesday, October 9th, 2018

By continuing its policy of paying interest on excess reserves, the Federal Reserve is courting a crisis.

Monday, October 8th, 2018

Regulation means both Gemini and Paxos must comply with NYDFS anti-money-laundering (AML) rules as well as efforts to counter the financing of terrorists (CFT).

Friday, October 5th, 2018

We must recognize that a whole may exhibit properties that are not present in its parts. But problems come in when the method of study for the economy as a whole looks radically different from that used for its parts.

Thursday, October 4th, 2018

Economists and philosophers engage in a strange form of positive analysis.

Friday, September 28th, 2018

Despite recent events in Venezuela, hyperinflation has become increasingly rare.

Thursday, September 27th, 2018

Historically, fractional-reserve banks have always won out against their full-reserve cousins. But times have changed.

Wednesday, September 26th, 2018

The Federal Reserve has created so much base money that it has found itself between the devil and the deep sea: choosing whether to let the money circulate in the economy, thereby pushing up prices, or to remove this money quickly, thereby potentially creating a deflationary spiral.

Tuesday, September 25th, 2018

For both social contract theory and monetary theory, theorists are considering something that never happened in the past and that they have no reason to believe will happen in the future. Nut such considerations are useful.

Thursday, September 20th, 2018

Price volatility is a big problem in the crypto world. But stable coins like Tether, Sagacoin, and Basis have their own issues.

Wednesday, September 19th, 2018

Does the experience of the Bernanke Fed demonstrate that monetary policy is ineffective at the zero lower bound? Absolutely not.

Tuesday, September 18th, 2018

Paul Krugman is a little too quick to dismiss the need for microfoundations in rigorous macro models.

Thursday, September 6th, 2018

A fixed money supply is not a good monetary rule. Efforts to move toward more elastic supplies should be welcomed.

Wednesday, September 5th, 2018

J.P. Koning argues that the U.S. government should issue—and tax—$500- and $1,000-denomination notes. James McAndrews, Joshua Hendrickson, and William Luther respond.

Tuesday, September 4th, 2018

Financial privacy does not get much attention from central bankers. But questions about privacy are becoming increasingly important.

Thursday, August 30th, 2018

Why do economists believe that the level of GDP we observe is merely nominal and that something called real GDP, which one cannot observe directly, actually exists?

Wednesday, August 29th, 2018

People use money. That itself tells us something about why we shouldn’t eliminate it.

Tuesday, August 28th, 2018

A new proposal would have the Federal Reserve provide interest-paying no-fee deposit accounts to the public.

Monday, August 27th, 2018

Trump’s trade war is heating up. How can the Fed ensure it doesn’t cool down our economy too much?

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