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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Why Inflation Is Not Helping European Stocks
The Euro zone CPI data continues to show the rising trend we commented here (read). In January inflation rose by 1.8% year-on-year, the highest reading since February 2013. However, while inflation […]
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Let’s get back to basics. What is a price?
A price is an exchange ratio: you must give up a certain amount of one good in order to get another good. Barter economies have prices, which are expressed as […]
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Against the War on Cash
In recent years, economists and central bankers have been advocating moving away from cash transactions towards an economy relying fully on financial transactions. At prima facie, this seems to be […]
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Cash and the Zero Lower Bound
This is the fourth (and, perhaps, final) post on Ken Rogoff’s The Curse of Cash. As summarized in an earlier post, Rogoff argues that the benefits of banning cash (e.g., […]
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The End Of Currency Wars?
This piece originally appeared in Hedgeye “From its creation in 1913, the most important Fed mandate has been to maintain the purchasing power of the dollar; however, since 1913 the dollar […]
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Nominal is Real; Real is Artificial
A basic tenet of macroeconomics and monetary economics is the difference between nominal variables and real variables. Nominal variables are expressed in current market prices. Real variables are adjusted to […]
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What the Fed Can’t Do
The American economy is still in the doldrums. It is growing and creating jobs at a snail’s pace compared to the years before the financial crisis. There are several reasons […]
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Donald Trump’s Fed
This piece originally appeared in The New York Sun It’s hard to think of an opportunity quite like that shaping up for President Trump in respect of the Federal Reserve. […]
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How Much Cash is Used by Criminals and Tax Cheats?
This is the second of several posts on Ken Rogoff’s The Curse of Cash. In this post, I consider Rogoff’s estimate for the extent to which cash is used by […]
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What interest rates really are and what happens when governments change them
This piece originally appeared in Learn Liberty By Nicolás Cachanosky When you pay interest, what are you paying for? Interest rates are one of the most confused subjects in economics. […]
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The Curse of Cash
As I mentioned in an earlier post, I have been reading Ken Rogoff’s new book, The Curse of Cash. Rogoff is a very smart guy who has been thinking about […]
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Bitcoin and the Bailout
To what extent did the Cyprus bailout announcement encourage some to reconsider bitcoin?
