Sunday, 19 April 2015
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    Calendar Tax Day

    Tax Day targets currency

    April 15, 2015
    Today is Tax Day. Across the country, individuals are scrambling to file their tax returns, enjoying discounts from various restaurant chains and (if they’re libertarians) posting lengthy Facebook statuses that outline why taxation is theft. While it’s easy to argue against our current tax code, claiming that there should be no taxation at any level is […]
    Dollar Usa, Eye. Extreme Closeup.macro

    Sound money macro: A follow up

    April 13, 2015
    In a recent post, I discussed sound money insofar as it enables macroeconomic stability. I emphasized one argument made by George Selgin and others concerning the information content of prices over time. Every economist fortunate enough to have a grandpa has had to explain at one time or another that, even though one might have […]

    Cato launches new blog: Alt-M

    April 9, 2015
    Earlier today, George Selgin, Director of the Cato Institute’s Center for Monetary and Financial Alternatives announced the launch of the Center’s new blog, “Alt-M.” We at the Sound Money Project are excited to continue to work with Dr. Selgin and his team to  raise awareness throughout the United States about the inherent problems of our […]
    Vintage Currency

    Wars and the pre-Fed economy

    April 8, 2015
    Many economists assume that the Fed has improved U.S. economic performance relative to the pre-Fed periods. As I discussed in a previous blog post, however, the Fed has been better on some margins and worse on others. Most improvements under the Fed have only come since about 1985 during the Great Moderation. Another aspect that […]
    Stagnation road sign

    The great stagnation

    April 6, 2015
    Ben Bernanke, now at Brookings Institute, has a new blog where he has been discussing low interest rates and the problem of secular stagnation. Great stagnation occurs when there are plenty of savings, but not investment options. Therefore, savings are not invested, aggregate demand weakens, and the economy stagnates. David Beckworth and The Economist offer […]
    Currency symbols on human hand. Money making and wealth

    The monetary approach reigns supreme

    April 3, 2015
    This article appeared in the April 2015 issue of Globe Asia.  We are still in the grip of the Great Recession. Economic growth remains anemic and below its trend rate in most parts of the world. And what’s more, this state of subdued economic activity has been with us for over seven years. In the U.S. […]
    Securing Your Finances

    Hidden costs of Federal Deposit Insurance

    April 1, 2015
    Everyone loves government-provided deposit insurance! Well, not everyone. But nearly everyone. It makes them feel secure knowing that, if their bank goes belly up, the Federal Deposit Insurance Corporation will swoop into action. What’s not to love about that? Co-blogger Thomas Hogan and I have argued that, contrary to standard models of deposit insurance, FDIC […]
    Protect Financial Savings

    Managed money ≠ sound money

    March 30, 2015
    When asked (especially during Congressional oversight hearings) a central banker will resolutely declare a belief in “price stability.” Then, with a straight face, express concerns that the rate of increase of consumer prices is below target! The belief that the average of the prices of things households purchase on a regular basis should always increase […]