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, August 15th, 2018

The features of monetary institutions that make them illiberal have a high likelihood of making them undemocratic as well.

Wednesday, August 8th, 2018

Nearly 10 years after QE1 began, economists and pundits continue to ask whether the Fed’s expansionary monetary policy was effective. Instead, they should consider whether the Fed actually engaged in expansionary monetary policy.

Tuesday, August 7th, 2018

The blockchain can intermediate funds. That means the elements are in place for the development of a stable financial market.

Wednesday, August 1st, 2018

All policy discussions must recognize constraints. The hard part is knowing which constraints are relevant.

Friday, July 27th, 2018

Central bankers need not merely be alert to market disequilibria. They must foretell, without the proper information, how the whole market will react to new conditions.

Thursday, July 26th, 2018

Why did the Federal Reserve move from a corridor to a floor system in 2008?

Thursday, July 26th, 2018

Whether Iran deserves to be re-embargoed is a complicated matter. But we know for sure that such embargoes put the dollar's dominant role in the global payments system at risk.

Wednesday, July 25th, 2018

A new blockchain initiative promises to make it easier for refugees transporting wealth.

Tuesday, July 24th, 2018

Expectations of government bailouts drove the increase and decline of American banks’ market value to book value, according to a new NBER working paper.

Monday, July 23rd, 2018

As far as monetary reforms go, the $1 coin’s removal may not be very flashy. But it seems like a no-brainer. 

Wednesday, July 18th, 2018

The beauty of blockchain technology is that it makes old intermediaries unnecessary. Intermediation of cryptocurrency can be performed on the blockchain. It does not require a third party.

Wednesday, July 11th, 2018

Discretionary central banking has had its day. It’s time to insist on lawful money.

Friday, July 6th, 2018

The classical gold standard has gotten a raw deal in our historical memory. Setting the record straight is a crucial step on the road back to restoring sound.

Thursday, July 5th, 2018

The knowledge required to maintain monetary equilibrium is tacit and dispersed. No centralized monetary system, no matter how smart or well-intentioned its leaders, has access to that knowledge.

Tuesday, July 3rd, 2018

Blockchain technology is developing at a fast pace. Don't get left behind!

Tuesday, July 3rd, 2018

Thomas M. Hoenig warns that regulators are trying to run regulated businesses rather than police them.

Monday, July 2nd, 2018

The costs required to protect Bitcoin from an attack may be its long-term downfall.

Friday, June 29th, 2018

Trump’s trade war is heating up. What should central banks do to ensure their economies aren’t damaged too much?

Thursday, June 28th, 2018

Facing competition from blockchain-based tokens, SWIFT has made significant upgrades we all benefit from.

Wednesday, June 27th, 2018

The Fed must abandon its traditional policy lever — open-market operations — in favor of managing the interest it pays on reserves if it is to hit its FFR target while operating in a floor system.

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