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: Gerald P. DwyerJoshua R. Hendrickson
Fellows: Scott A. Burns, James L. Caton, Nicolás Cachanosky, Judge GlockAlexander W. Salter
Contributors: Brian C. Albrecht, J.P. Koning

Thursday, January 17th, 2019

Bitcoin and other cryptocurrencies have a bad reputation. But they can be used to avoid high inflation and the effects of pernicious capital controls.

Tuesday, January 15th, 2019

That one set of payments providers gets access to the core payments system while another is shut out seems quite arbitrary.

Monday, January 14th, 2019

We can’t predict exactly what solutions will emerge from financial liberalization. The results will likely differ from country to country or region to region, depending on unique cultural and socio-economic factors.

Thursday, January 10th, 2019

While it is appropriate for monetary policy to be removed from active political interference, it does not follow that monetary policy ought not be judged according to democratic standards.

Wednesday, January 9th, 2019

Argentina has secured an IMF agreement and announced aggressive policies to reduce its fiscal deficit and inflation rate. But that might not be enough to comfort its creditors.

Tuesday, January 8th, 2019

The blockchain technology is essential when trust is sufficiently weak, monitoring is sufficiently costly, privacy is sufficiently important, or security is of sufficient concern.

Monday, December 31st, 2018

European payments just got a whole lot faster. But faster speeds come at a cost.

Friday, December 28th, 2018

The Fed’s failure to shrink its balance sheet and commitment to paying above-market interest on reserves could undermine its ability to combat the next recession.

Thursday, December 27th, 2018

Long-term stability in economic growth owes to the robustness of economic organization in the United States. A single president might transform the economic landscape, but that transformation is necessarily constrained.

Thursday, December 27th, 2018

A new NBER working paper raises doubts about the welfare gains from mobile banking.

 

Wednesday, December 19th, 2018

With the ratio of debt to GDP exceeding 100 percent, a crisis is not unthinkable.

Tuesday, December 18th, 2018

Argentina has seen a series of currency crises as an excessive reaction to international events and changes in market conditions in the last few months. Argentine monetary policy is largely to blame.

Thursday, December 6th, 2018

In a new NBER working paper, Cory Cutsail and Farley Grubb offer a novel data set on North Carolina’s paper-money regime (1712-1774).

Wednesday, December 5th, 2018

F.A. Hayek’s proposed market for private monies resembles the market for cryptocurrencies that has emerged over the last decade.

Tuesday, December 4th, 2018

President Trump violated long-standing norms with his swipes at the Fed. But the notion that his predecessors kept their noses out of the Fed’s business is largely a myth.

Thursday, November 29th, 2018

The Riksbank—Sweden’s central bank—intends to issue a digital currency.

Wednesday, November 28th, 2018

Paul Volcker takes issue with the Federal Reserve’s two-percent inflation target. He is right to do so.

Tuesday, November 27th, 2018

The Divisia monetary aggregates suggest that the equation of exchange is still a useful apparatus for monetary policy.

Monday, November 19th, 2018

Sweden has been at the forefront of monetary experimentation for centuries. Now they have the distinction of being the only country in the world to experience declining growth in cash in circulation.

Thursday, November 15th, 2018

A new NBER working paper uses bank-level financial and county-level agricultural data to show how risky lending might amplify the boom and bust.

 

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