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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Does bitcoin have a big volatility problem?
Harper is right that bitcoin is volatile; that this volatility makes it less desirable to hold; and that its volatility will continue to decline as the demand for bitcoin increases. Nonetheless, concerns about its volatility are often overstated.
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Cato Monetary Conference: a reflection on James Bullard
Last Tuesday, the 33rd annual Cato Monetary Conference was held at the Cato Institute in Washington, DC. There, brilliant minds met and presented on various interesting topics. I will briefly comment on […]
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Do we need a distinct monetary constitution?
Having a monetary constitution is important. But do we need a distinct monetary constitution? Steven Horwitz says no. Agreeing with James Buchanan that a monetary constitution is desirable, Horwitz argues […]
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Prudential banking versus real bills doctrine
Should banks adhere to the Real Bills Doctrine (RBD)? This is an old question that, from time to time, resurfaces. So what then is a real bill? A real bill […]
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Op-ed: A new sound money movement for the GOP?
Taking a look back at last week’s GOP debate, there is clearly room for much criticism of CNBC and the questions asked of the candidates. But, sound money advocates might concede […]
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Sound as a dollar
A few weeks ago I addressed the question, “Who Wants Sound Money?” Because my answer was that apparently everyone does, the next obvious question is: who should be responsible for […]
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When should the Fed raise its federal funds rate target?
There are at least two situations in which it would make sense for the Fed to raise its target rate.
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The drawback of a monetary constitution
My previous posts have been fairly positive towards the idea of a monetary constitution: a binding rule on monetary policy makers that these policy makers cannot change. A monetary constitution […]
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Who wants sound money?
Well, apparently everyone does. An often misunderstood postulate in economics is known as “Gresham’s Law.” The popular version is that “bad money drives out good money.” Historically, what this has […]
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Paper: Risk and Risk-Based Capital of U.S. Bank Holding Companies
The following is a newly released paper by Dr. Thomas Hogan, former Sound Money Project fellow and current Chief Economist for the U.S. Senate Committee on Banking, Housing, & Urban Affairs. Risk and Risk-Based Capital […]
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Op-ed: How the Fed saved the economy
This piece originally appeared in The Wall Street Journal By Ben S. Bernanke For the first time in nearly a decade, the Federal Reserve is considering raising its target interest rate, […]
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Financial bubbles and macro prudential policy
In the field of monetary policy, there is one question that must necessarily be addressed: what should a central bank do in light of a financial bubble? Should it try to […]
