Sound Money
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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.
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Hayek’s Commodity Reserve Currency
Hayek’s commodity reserve standard would automatically serve to stabilize prices and output. In our discussion of rule-based monetary policy and sound money, the mechanics and principles guiding Hayek’s proposal deserve careful consideration.
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Working Paper Series
The first two issues of the new AIER Sound Money Project Working Paper Series are available online.
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Money Creation in the Market
Financial regulators ought not inhibit private money creation processes, which make the market more resilient in times of crisis.
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Bordo’s Principles for Monetary Stability
Financial crises come in all shapes and sizes. What could we possibly learn about proper monetary policy?
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Monetary Cosmopolitanism: The International Gold Standard
In many ways, we are better off than we were in the era of the international gold standard. But monetary freedom is not one of them.
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Financial Depth and the Fed’s Balance Sheet
The Fed’s balance sheet crowds out bank lending, stifling economic growth.
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Why Is Bitcoin So Valuable?
The price of bitcoin has soared and many are left scratching their heads.
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Coinage and Fiscal Finagling
Coinage provided an easy-to-assess standard. It also presented a significant temptation for the fiscal authority.
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