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. Jordan, Lawrence H. White
Director: William J. Luther
Senior Fellows: Nicolás Cachanosky, Gerald P. Dwyer, Joshua R. Hendrickson, Thomas L. Hogan, Gerald P. O’Driscoll, Jr., Alexander W. Salter
Fellows: J.P. Koning
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Sound money isn’t what you think it is
Many people define sound money as being when a currency’s purchasing power is not declining, but stable. This isn’t quite right, so let’s drill down. Consider two relentless processes occurring […]
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What Austrian business cycle theory does not predict
Many economists who have broadly free market views on money are sympathetic to the Austrian theory of the business cycle (ABCT). As developed in the early part of the 20th century […]
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Juan C. Cachanosky (1953 – 2015): See you on our next morning walk
These are likely the most difficult lines that I have had to write in a very long time, if not ever. Juan Carlos Cachanosky, my dad, passed prematurely on December 31st, 2015, […]
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Taylor, Sumner and Selgin at the Cato Monetary Conference
In this post I want to briefly comment on three points raised by J. B. Taylor, George Selgin, and Scott Sumner. Though these points have been raised before in the […]
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The value of our money
The purchasing power of money over time depends on its relative abundance or scarcity. People choose to hold money balances for a variety of reasons, all of which economists lump […]
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The long run benefits of a monetary policy rule
When teaching undergraduates or talking with non-economists, I usually argue that, while the Fed can affect aggregate demand (or nominal spending), it has no effect whatsoever on aggregate supply. If […]
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Monetary predictability
Supposing we decide a formal monetary constitution is a good idea, what properties should it have? What essential features of money must a monetary constitution safeguard? Again referencing James Buchanan, we […]
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Money, inflation, and central banks
Milton Friedman famously declared that inflation is always and everywhere a monetary phenomenon. While that no doubt remains a universal principle, it is not the same (as some people think) that […]
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Bank regulations continue to hinder the U.S. recovery
This article appeared in the December 2015 issue of Globe Asia. By Professor Steve H. Hanke Money matters — it’s one of Milton Friedman’s maxims that I repeat often in my […]
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More insights from the Cato Monetary Conference
In this post I would like to briefly comment on three points raised by J. B. Taylor, George Selgin, and Scott Sumner. Though these points have been raised before, they […]
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The Wicksell Club
I was pleased to see David Henderson call out Bill Poole for claiming the Fed sets the federal funds rate. It doesn’t, of course. Welcome to the Wicksell Club, David! […]
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The global gold market vs. sovereign debt
This article was originally published by UFM Market Trends. By Dickson Buchanan Jr. The gold market has shown a lot of volatility recently, causing many financial commentators to question its […]
