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. 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, November 23rd, 2016
This piece originally appeared in Alt-MBy Ari Blask 
Monday, November 14th, 2016
In recent decades, the “big debate” among monetary economists and policy makers was “Rules versus Discretion.”  That debate accepted that the various tools/instruments available to monetary policymakers are well known.  Implicit is that the linkages between open market operations of the central bank
Thursday, November 10th, 2016
For some time now, a lot of attention has been put on the Federal Reserve’s decision on whether or not to increase the federal funds rate target or to leave it unchanged at its current level. The health of the U.S.
Wednesday, November 2nd, 2016
When discussing the market for money balances, many reputable macroeconomics and money and banking textbooks say that the price of money is the interest rate.
Thursday, October 27th, 2016
This article appeared in the November 2016 issue of Globe Asia.
Tuesday, October 25th, 2016
Follow the money…
Wednesday, October 12th, 2016
A negative interest rate imposed by a central bank on reserve balances of commercial banks is not an interest rate at all.  It is a tax.  As such, like all taxes, it transfers resources from the private sector to the government sector and has a contractionary effect on economic activity.  The Europe
Wednesday, October 5th, 2016
At the recent Jackson Hole meetings, John Williams, president of the Federal Reserve Bank of San Francisco, argued there has been a  “significant decline
Tuesday, August 23rd, 2016
Many who are supportive of free markets blame central banks for the low interest rates that have prevailed since the end of the 2007-8 financial crisis.  This is a
Wednesday, August 10th, 2016
One of the open questions since the subprime crisis is whether or not the natural rate of interest is as low as the federal funds rate. The natural interest rate is the rate that equilibrates production over time.
Wednesday, July 27th, 2016
This article appeared in the June 2016 issue of Globe Asia.
Wednesday, July 20th, 2016
June 23 will most likely be remembered as a turning point in Britain’s fate, as 17.4 million Britons expressed their desire to sever ties with the European Union (EU) in a historic referendum. The British, and global, economy is facing an imminent cloud of uncertainty.
Monday, July 18th, 2016
Bill Emmott at Project Syndicate claims that austerity is failing—just look at the poor European recovery after the financial crisis and the weak Japanese economy.
Wednesday, July 13th, 2016
Thanks in part to high-profile and controversial public policy since the financial crisis, and to a lesser extent politicians such as Ron and Rand Paul, the monetary and financial arrangements of the United States have become a surprising source of public indignation.  Monetary and financial policy,
Wednesday, July 6th, 2016
There has been a strong (and I’m inclined to say emotional) negative reaction to the Brexit. But really, it doesn't have to be the end of the world for the British economy. Being a member to the European Union (EU) imposes two constraints.

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