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, 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.

Wednesday, November 8th, 2017

Economists might wish it were otherwise, but the Fed is not independent.

Monday, November 6th, 2017

Financial innovation reduces the costs of transacting and storing wealth.

Thursday, November 2nd, 2017

Cash can be converted to goods all but instantly, but provides the holder of cash no interest.

Wednesday, November 1st, 2017

Indians accomplished in mere months something that took Europeans ten years.

Thursday, August 3rd, 2017

The previous post presented Hayek’s knowledge problem in the context of the economic calculation debate under socialism. We discussed the distinction (sometimes overlooked) between information and knowledge .

Wednesday, August 2nd, 2017

In my previous posts, Andreas Hoffmann and I discussed the problem of unintended consequences in monetary policy, particularly as applied to the U.S. Federal Reserve and the European Central Bank in the context of the 2008 crisis.

Thursday, July 20th, 2017
Can you name an official at a major central bank who expresses worries that inflation is now, or soon will be, too high?  Can you identify any financial publication--even the Wall Street Journal--that does not report that recent inflation data have been "disappointing?" To paraphrase former Presiden