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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The contractionary, contradictory nature of negative interest rates
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, […]
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Leonard Liggio lecture 2016: The classical liberal tradition of sound money
By Dr. Lawrence White Let me welcome you all to the capital of Latin America. And when I say capital, I mean that much of the financial wealth of Latin […]
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Disappointing estimates of the natural rate
The Fed should stop trying to do the impossible. It should, instead, take the more practical approach of targeting nominal income.
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Enhance prosperity and improve health: Slash regulations, please
This article appeared in Globe Asia. Productivity and economic growth continue to surprise on the downside in most countries. While there is a great deal of handwringing over the so-called productivity […]
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Don’t blame central bankers for persistently low interest rates
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 mistake. […]
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Natural rate of interest: Is it that low?
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 […]
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On the Italian and eurozone doomsday scenario
This article appeared in the June 2016 issue of Globe Asia. On June 23rd, the voters in the United Kingdom (UK) turned a collective thumbs-down on the European Union (EU). The […]
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The monetary ripples of Brexit
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 […]
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Austerity isn’t failing, big government is
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. Austerity is not working and therefore […]
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Against monetary democracy
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 […]
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On Brexit
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 […]
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Macro Musings Podcast
If you are a fan of podcasts, let me recommend this relatively new one hosted by David Beckworth at the Mercatus Center. David’s views on the Great Recession are quite […]
