This issue of the Cato Journal is dedicated to Allan H. Meltzer who passed away on May 8, 2017. Allan spoke at the 1st Annual Monetary Conference in 1983 and many thereafter. He was a frequent contributor to the Cato Journal, a friend, and mentor. He will be sorely missed….
Yi Gang, an American-trained economist who taught at the University of Indiana, will take over as governor of the People’s Bank of China. Since 2008, he has been deputy governor under Zhou Xiaochuan, who became head of the bank in 2002. The unexpected appointment of Mr. Yi…
President Trump’s nomination of Jerome Powell as the next chairman of the Federal Reserve System is a bet that he will continue Janet Yellen’s policies and not rock financial markets. The expectation is that Powell will follow the Fed’s already-announced normalization schedule, which calls for slowly reducing…
During the Western Han Dynasty (206 B.C. – A.D. 9), the question of monetary freedom was vigorously debated. There were as yet no banks or paper money in China — money consisted solely of coin. Private mints competed with government mints, either in the shadow market or…
The world lost a great champion of liberty with the passing of Allan Meltzer, a longtime Professor of Political Economy at Carnegie Mellon University. Allan was a prodigious worker who wrote hundreds of articles and more than ten books, including his monumental A History of the Federal…