Sound Money Project
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“Competing Money Supplies”
“What would be the consequences of applying the principle of laissez-faire—that is, completely free markets—to money? While the idea may seem strange to most people, economists have debated the question of competing money supplies off and on since Adam Smith’s time. In recent years, trends in banking deregulation, developments in electronic payments, and episodes of…
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“The Financial Crisis, In Rhyme Form”
“The volume of mortgages written back then Stunned imaginations. In a single quarter in 2003, A trillion in originations! But something happened late that year That caused long rates to rise. And that was the end of the refi boom. It came as quite a surprise.” Read more here. “The Financial Crisis, In Rhyme Form”…
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“Money and the Present Crisis”
“It is largely a myth that unregulated financial capitalism failed and new regulation is needed. Aside from health care, financial services is the most heavily regulated industry in the economy. No part of it completely escaped regulation and most parts were heavily regulated, typically withmultiple government agencies overseeing the activities of financial services firms.” Read…
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“An International Monetary Fund Currency…”
“To alleviate the global recession, the G-20 group of nations recently agreed to authorize the International Monetary Fund to allocate $250 billion worth of Special Drawing Rights — the IMF’s unit of account — to its member states. This sparked much discussion on whether the SDR could become a new international currency, rivaling the U.S.…
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“Argentina Seizes the Central Bank”
“After a month of wrangling, Argentine President Cristina Kirchner succeeded in sacking central bank President Martin Redrado last week. In his place she named Mercedes Marcó del Pont, a Yale-trained economist who has expressed the view that central bank autonomy ought to be limited.” Read more. “Argentina Seizes the Central Bank” Mary Anastasia O’Grady The…
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It’s October 1931
“We are now more than two years into the Great Recession, which began in December 2007. In the Great Depression, this was the point where the Fed decided to raise interest rates to keep the dollar from depreciating (after Britain left the gold standard.) Mr. Bullard of the St. Louis Fed wants to see “at…
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Henry Hazlitt’s “Lenin Was Right”
Our friends at the Foundation for Economic Education have started a From The Archives blog. The intent is to pull content from their substantial archives (featuring many famous economists such as F.A. Hayek, Henry Hazlitt, Murray Rothbard and more) and show how those words are still relevant today. Here’s an excerpt from the latest post…
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“How Did We Get Into This Mess?”
“As policymakers confront the ongoing U.S. financial crisis, it is important to take a step back and understand its origins. Those who fault “deregulation,” “unfettered capitalism,” or “greed” would do well to look instead at flawed institutions and misguided policies.” Read more. “How Did We Get Into This Mess?” Lawrence H. White Briefing Papers, No.…
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“Shughart: Bernanke agonistes”
“Mr. Bernanke has become something of a lightning rod for critics on the left, who think his response to the financial crisis that triggered the recession has been too timid, and for those on the right, who charge that the Fed has been overly aggressive and will be unable to unwind its easy-money policy and…
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“Financial Crisis and Public Policy”
“This Policy Analysis explains the antecedents of the current global financial crisis and critically examines the reasoning behind the U.S. Treasury and Federal Reserve’s actions to prop up the financial sector. It argues that recovery from the financial crisis is likely to be slow with or without the government’s bailout actions.” Read more. “Financial Crisis…
-
“Competing Money Supplies”
“What would be the consequences of applying the principle of laissez-faire—that is, completely free markets—to money? While the idea may seem strange to most people, economists have debated the question of competing money supplies off and on since Adam Smith’s time. In recent years, trends in banking deregulation, developments in electronic payments, and episodes of…
-
“The Financial Crisis, In Rhyme Form”
“The volume of mortgages written back then Stunned imaginations. In a single quarter in 2003, A trillion in originations! But something happened late that year That caused long rates to rise. And that was the end of the refi boom. It came as quite a surprise.” Read more here. “The Financial Crisis, In Rhyme Form”…
-
“Money and the Present Crisis”
“It is largely a myth that unregulated financial capitalism failed and new regulation is needed. Aside from health care, financial services is the most heavily regulated industry in the economy. No part of it completely escaped regulation and most parts were heavily regulated, typically withmultiple government agencies overseeing the activities of financial services firms.” Read…
-
“An International Monetary Fund Currency…”
“To alleviate the global recession, the G-20 group of nations recently agreed to authorize the International Monetary Fund to allocate $250 billion worth of Special Drawing Rights — the IMF’s unit of account — to its member states. This sparked much discussion on whether the SDR could become a new international currency, rivaling the U.S.…
-
“Argentina Seizes the Central Bank”
“After a month of wrangling, Argentine President Cristina Kirchner succeeded in sacking central bank President Martin Redrado last week. In his place she named Mercedes Marcó del Pont, a Yale-trained economist who has expressed the view that central bank autonomy ought to be limited.” Read more. “Argentina Seizes the Central Bank” Mary Anastasia O’Grady The…
-
It’s October 1931
“We are now more than two years into the Great Recession, which began in December 2007. In the Great Depression, this was the point where the Fed decided to raise interest rates to keep the dollar from depreciating (after Britain left the gold standard.) Mr. Bullard of the St. Louis Fed wants to see “at…
-
Henry Hazlitt’s “Lenin Was Right”
Our friends at the Foundation for Economic Education have started a From The Archives blog. The intent is to pull content from their substantial archives (featuring many famous economists such as F.A. Hayek, Henry Hazlitt, Murray Rothbard and more) and show how those words are still relevant today. Here’s an excerpt from the latest post…
-
“How Did We Get Into This Mess?”
“As policymakers confront the ongoing U.S. financial crisis, it is important to take a step back and understand its origins. Those who fault “deregulation,” “unfettered capitalism,” or “greed” would do well to look instead at flawed institutions and misguided policies.” Read more. “How Did We Get Into This Mess?” Lawrence H. White Briefing Papers, No.…
-
“Shughart: Bernanke agonistes”
“Mr. Bernanke has become something of a lightning rod for critics on the left, who think his response to the financial crisis that triggered the recession has been too timid, and for those on the right, who charge that the Fed has been overly aggressive and will be unable to unwind its easy-money policy and…
-
“Financial Crisis and Public Policy”
“This Policy Analysis explains the antecedents of the current global financial crisis and critically examines the reasoning behind the U.S. Treasury and Federal Reserve’s actions to prop up the financial sector. It argues that recovery from the financial crisis is likely to be slow with or without the government’s bailout actions.” Read more. “Financial Crisis…
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