• War Of Words Over Inflation Stirs Questions for the Fed

    “Does it make sense, for a nation founded on the notion of individual liberty, equality under the law, and personal property rights, to allow a government agency to manipulate the value of the currency used by its citizens? Would it be better to have a stable monetary foundation to facilitate free-market outcomes, rather than empower…

    War Of Words Over Inflation Stirs Questions for the Fed
  • There Is No Avoiding the Long Run: A Low Interest Rate Environment Is a Low Growth Environment

    “We’ve trod down the post-Bernanke path long enough to learn that the cost of following a policy of resource allocation by the Federal Reserve instead of allowing a modestly higher rate of inflation is lower growth of real income.” ~ James L. Caton

    There Is No Avoiding the Long Run: A Low Interest Rate Environment Is a Low Growth Environment
  • Monetary Control: Central Banks Today

    “The Fed’s operating framework systematically tends towards the abuse of life, liberty, and property. If we want to fix this, we need to take a much closer look at the relationship between money and freedom. Only if we understand this relationship, philosophically, economically, and historically, will we be in a position to fix what’s gone…

    Monetary Control: Central Banks Today
  • Assessing Potential for Higher Inflation

    “Monetary policy is intentionally supporting fiscal policy and supporting levels of indebtedness from the Federal government that are unprecedented. The result has been an explosion of M2 that increases the risk of inflation. There is a fair chance that policymakers will succeed. But, for the possibility of success, they risk a monetary-fiscal crisis.” ~ James…

    Assessing Potential for Higher Inflation
  • The Lumber Market Delirium

    “A sordid cocktail of Covid lockdowns and expansionary monetary policy have led to explosive conditions in long-docile lumber markets.” ~ Peter C. Earle

    The Lumber Market Delirium
  • The Rise of Bitcoin

    “The blockchain technology at bitcoin’s core provides a new and fundamentally different way to process payments. It relies on neither decentralized nor centralized clearing. Instead, it processes transactions over a distributed network. And, by solving the double spending problem without recourse to a trusted third party, it has the potential to offer a degree of…

    The Rise of Bitcoin
  • Biden’s Infrastructure Boondoggle

    “The immediate lesson from all of this is that Biden’s plan is a boondoggle waiting to happen (just as would have been the case with Trump). The longer-term lesson is that we should get the federal government out of the business of infrastructure.” ~ Daniel J. Mitchell

    Biden’s Infrastructure Boondoggle
  • Thomas L. Hogan

    Thomas L. Hogan, Ph.D., is an Associate Senior Research Fellow at AIER. He was formerly the chief economist for the U.S. Senate Committee on Banking, Housing and Urban Affairs. He has also worked at Rice University’s Baker Institute for Public Policy, Troy University, West Texas A&M University, the Cato Institute, the World Bank, Merrill Lynch’s…

    Thomas L. Hogan

On the origins of cryptocurrencies

WJ Luther, N Sridhar. A Modern Guide to Austrian Economics, 200-215, 2022

Seigniorage payments and the Federal Reserve’s new operating regime

BP Cutsinger, WJ Luther. Economics Letters 220, 110880, 2022

Central bank independence and the Federal Reserve’s new operating regime

JL Jordan, WJ Luther. The Quarterly Review of Economics and Finance 84, 510-515, 2022

The Value of Bitcoin in the Year 2141 (and beyond!)

JR Hendrickson, WJ Luther. The Economics of Blockchain and Cryptocurrency, 51-68, 2022

Cash, crime, and cryptocurrencies

JR Hendrickson, WJ Luther. The Quarterly Review of Economics and Finance 85, 200-207, 2022

Book Review: Money and the Rule of Law: Generality and Predictability in Monetary Institutions

PC Earle. Quarterly Journal of Austrian Economics 24 (4), 2022

General Institutional Considerations of Blockchain and Emerging Applications

PC Earle, DM Waugh. The Emerald Handbook on Cryptoassets: Investment Opportunities and …, 2023

Cryptocurrencies, Blockchain, and Public Choice

RM Yonk, D Waugh. Cryptocurrency Concepts, Technology, and Applications, 2023

Money, Power, and the People: The American Struggle to Make Banking Democratic by Christopher W. Shaw

RE Wright. Journal of Interdisciplinary History 52 (4), 624-626, 2022

War, money & economy: Inflation and production in the Fed and pre-Fed periods

TL Hogan, DJ Smith. The Review of Austrian Economics, 1-23, 2022

Comment on Docket No. OP-1793,’Principles for Climate-Related Financial Risk Management for Large Financial Institutions’

TL Hogan. OP-1793,’Principles for Climate-Related Financial Risk Management for Large …, 2023