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

Sunday, December 31st, 2017

Where does money come from? There are two reasonable ways to consider the question.

Saturday, December 30th, 2017

Much progress has been made. And, yet, there is still much room for improvement.

Saturday, December 30th, 2017

When we discuss the origins of money, we are asking about the generation of a new conception where a particular kind of meaning is attributed to an object for the very first time.

Wednesday, December 27th, 2017

A new NBER working paper explains how too-big-to-fail policy encourages risky investments by small banks as well.

Thursday, December 21st, 2017

The extreme focus on price level stability should have been put to rest by the 2008 financial crisis. But conflicting narratives have enabled it to live on.

Monday, December 18th, 2017

There will probably be a downturn at some point. But we can expect that the most functional cryptocurrencies will remain.

Friday, December 15th, 2017

There’s a lot of talk about bitcoin futures markets these days. And for good reason.

Thursday, December 14th, 2017

The Fed's balance sheet crowds out bank lending, stifling economic growth.

Monday, December 11th, 2017

Coinage provided an easy-to-assess standard. It also presented a significant temptation for the fiscal authority.

Thursday, December 7th, 2017

Chartalists are right: debt preceded money. But that fact doesn’t do the work they think it does.

Tuesday, December 5th, 2017

The price of bitcoin has soared and many are left scratching their heads.

Monday, December 4th, 2017

Is bitcoin based on a Marxist theory of value?

Thursday, November 30th, 2017

There are two reasons monetary policy cooperation might backfire.

Tuesday, November 28th, 2017

Banning cash is inconsistent with the liberal tradition. It is the way of despots.

Thursday, November 23rd, 2017

Money is not about one person in isolation. It is social.

Wednesday, November 22nd, 2017

To anyone familiar with free banking systems, the answer is obvious.

Monday, November 20th, 2017

Customers can now send mobile money to those on competing networks.

Wednesday, November 15th, 2017

If we want sound money, we cannot afford to ignore the political process.

Monday, November 13th, 2017

whirlwind tour through alternative theories would seem to suggest one fits much more comfortably with a pro-liberty worldview than another.

Friday, November 10th, 2017

The high price of bitcoin serves as a reminder of its rigid supply, which might ultimately be its undoing.