Saturday, 25 April 2015
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    Sound Money Fellow named Chief Economist of Senate Banking Committee

    April 22, 2015
    The Atlas Network’s Sound Money Project is proud to announce that Dr. Thomas L. Hogan has accepted an appointment as Chief Economist of the Senate Banking Committee. Although this means that he will be stepping down from his role as a SMP Fellow, we could not be more excited to have such a talented and committed free-banker […]
    Status Quo

    Op-ed: Status quo on housing finance keeps failed system in place

    April 21, 2015
    The following is an excerpt from a piece by Norbert Michel that was originally published by Forbes. The status quo. It’s a powerful force in Washington, D.C. No matter how destructive or inefficient an existing program, institution or system may be, it’s always safer for politicians to maintain the status quo rather than meaningfully change […]
    Interest rates

    The Taylor Rule and the natural rate of interest

    April 20, 2015
    A few weeks ago I commented on whether or not the Market Monetarist position that a 5% growth rate of NGDP (before the subprime crisis) could have been too much. The main point was that other nominal variables did not behave in accordance to what would expected in monetary equilibrium. Because other widely used measures, […]
    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 […]