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

Monday, February 26th, 2018

The available evidence suggests that it is painful to lower inflation rates—and that pre-commitments do little to mitigate those costs.

Sunday, February 25th, 2018

Do we need more government oversight for bitcoin? In a recent point-counterpoint debate, AEI's Paul Kupiec and AIER's William Luther square off.

Saturday, February 24th, 2018

Central bank digital currencies will be used by criminals. But central banks should still provide them.

Tuesday, February 13th, 2018

After nearly a decade of decrying austerity programs, Krugman finally understands the monetary offset.

Sunday, February 11th, 2018

Yellen’s Fed did little to put monetary policy on a sustainable long run path.

Friday, February 9th, 2018

Central banking is the institutionalization of irresponsibility in monetary policy.

Monday, February 5th, 2018

The chief problem with modern central banking is that it’s discretionary.

Thursday, February 1st, 2018

Nearly a decade after the Great Recession, prominent economists are finally expressing their dissatisfaction with the Fed’s performance.

Wednesday, January 31st, 2018

Financial crises come in all shapes and sizes. What could we possibly learn about proper monetary policy?

Tuesday, January 30th, 2018

Austrian ideas are ripe for introduction into mainstream macroeconomics. But there is still a lot of work that needs to be done.

Tuesday, January 30th, 2018

A new NBER paper shows that credit-induced banking panics are the exception, not the rule.

Monday, January 29th, 2018

There were many problems with the state bank era. But that does not mean the suppression of state banknotes improved matters.

Friday, January 26th, 2018

Victor Morawetz worried that regional differences would undermine central bank independence.

Thursday, January 25th, 2018

Like clearinghouse associations, the blockchain technology will further stabilize the banking system.

Tuesday, January 23rd, 2018

Problems that arose with the gold standard were certainly associated with deflation. That does not mean the gold standard was inherently deflationary.

Thursday, January 18th, 2018

Macroeconomic theorists and policy makers have taken different routes in recent years.

Wednesday, January 17th, 2018

Is the macroeconomics profession taking an Austrian turn in the wake of the Great Recession?

Wednesday, January 10th, 2018

In many ways, we are better off than we were in the era of the international gold standard. But monetary freedom is not one of them.

Wednesday, January 3rd, 2018

Banks improved financial intermediation, but also made it much easier for rulers to reallocate resources to the themselves while indirectly imposing costs on society at large.

Monday, January 1st, 2018

Allan H. Meltzer’s influence as a monetary historian is undeniable. His role in advancing monetary disequilibrium theory should not be overlooked.