Alexander W. Salter
Much Ado About Nothing: Objections to the Classical Gold Standard
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.
The Economics of the Classical Gold Standard
The era of monetary cosmopolitanism was brief. But its effect on human welfare was enormous.
Monetary Cosmopolitanism: Money as a Network Good
Money is a good that has interesting scaling properties. The more people there are within a given monetary network, the more valuable it is for each person to be a part of that monetary network.
Monetary Institutions and the Rule of Law
Rule-of-law monetary systems are more ethically justifiable. They also work better.
Money and the Extent of the Market
Sound money and the progress of civilization are inexorably entwined. Those who would sever this link for the perceived short-run benefits of monetary macro-management and fine-tuning should beware of the harm they court.
Money and the Market Process
A market economy without money would not be able to achieve a division of labor sufficient to make it worthwhile.
Money as a Social Institution
If the language of commerce is quid pro quo, money is its grammar.
Case Study: The 2007-8 Financial Crisis
Through incentive and information problems, the Fed–rather than free markets–caused the 2007-8 financial crisis.
Discretionary Central Banking Is Information Incompatible
Discretionary central banking places immense information burdens on central bankers.
Discretionary Central Banking Is Incentive Incompatible
Central banking is the institutionalization of irresponsibility in monetary policy.
