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Ideas for an Alternative Monetary Future

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Ideas for an Alternative Monetary Future

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About Larry White
Lawrence H. White is a senior fellow at the Cato Institute, and professor of economics at George Mason University since 2009. An expert on banking and monetary policy, he is the author of The Clash of Economic Ideas (Cambridge University Press, 2012), The Theory of Monetary Institutions (Basil Blackwell, 1999), Free Banking in Britain (2nd ed., Institute of Economic Affairs, 1995), and Competition and Currency (NYU Press, 1989). He is co-editor of Renewing the Search for a Monetary Constitution (Cato Institute, 2015), and editor of The History of Gold and Silver (3 vols., Pickering and Chatto, 2000), Free Banking (3 vols., Edward Elgar, 1993), and The Crisis in American Banking (NYU Press, 1993). His articles on monetary theory and banking history have appeared in the American Economic Review, Journal of Money, Credit, and Banking, and other leading professional journals.

White received the 2008 Distinguished Scholar Award of the Association for Private Enterprise Education. He has been a visiting research fellow at the American Institute for Economic Research, a visiting lecturer at the Swiss National Bank, and a visiting scholar at the Federal Reserve Bank of Atlanta. He is a co-editor of the online journal Econ Journal Watch, and hosts bimonthly podcasts for EJW Audio. He is also a member of the Financial Markets Working Group of the Mercatus Center at George Mason University.

White holds a BA in economics from Harvard College and a PhD in economics from UCLA.
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The Fed & Central Banks

The real problem today is not so much nominal

Larry White/September 23, 2012June 19, 2022 /3 Comments

Scott Sumner told us in September 2009 that "the real problem was nominal," that is, the recession and its high unemployment were primarily due to an unsatisfied excess demand for money (combined with real effects on debt burdens of nominal income being below its previous path). In…

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The Fed & Central Banks

How much dodgy debt will the ECB buy?

Larry White/September 7, 2012June 19, 2022 /4 Comments

The European Central Bank yesterday, in the words of The Washington Post, "announced that it would buy the bonds of struggling governments without limit" (emphasis added). But that can really only mean “without an announced limit.” There is an implicit limit so long as ECB sticks to…

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Financial Markets, Free Banking, Recommended Reading

Testimony on fractional-reserve banking

Larry White/July 2, 2012June 19, 2022 /44 Comments

Here is a link to video of Ron Paul's subcommittee hearing Thursday on fractional reserve banking. Below it is the text of my written statement. Hearing June 28 2012 Fractional Reserve Banking Statement of Lawrence H. White Professor of Economics, George Mason University before the House Subcommittee…

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Commodity Money, Events, Recommended Reading

Making the Transition to a New Gold Standard

Larry White/December 22, 2011June 19, 2022 /27 Comments

Presented at the Cato Institute Annual Monetary Conference, 16 November 2011 Suppose for the sake of argument that we all agree to the following proposition: If we could change the monetary regime with zero switching cost, merely by snapping our fingers, we would prefer the US to…

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Currency Boards, Inflation & Deflation

A curious claim by Alan Blinder

Larry White/December 13, 2011June 19, 2022 /8 Comments

Alan Blinder in the Wall St. Journal today urges his readers to "remember the two fundamental determinants of exchange rates: (1) productivity in different countries—so, other things equal, faster productivity growth should lead to a rising exchange rate; and (2) prices and wages in different countries—so lower…

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  • Working Paper Series
  • Norbert Michel

Categories

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  • Working Papers (7)

Recent Posts

  • The Menace of Fiscal Inflation
  • Monetary Progress
  • Paul Krugman and the "Ersatz" Theory of Private Currencies
  • The New Deal and Recovery, Part 18: The Recovery So Far
  • Should the Fed Devalue Our Currency to Implement Negative Interest Rates?
  • Populism and the Future of the Fed: A New Book from Cato’s Center for Monetary and Financial Alternatives
  • Revising the Bank Secrecy Act to Protect Privacy and Deter Criminals (CMFA Working Paper No.007)

Recent Comments

  • brian_in_arizona on The Menace of Fiscal Inflation
  • Selgin on Paul Krugman and the "Ersatz" Theory of Private Currencies
  • Brutus admirer on Monetary Progress
  • Brutus admirer on The Menace of Fiscal Inflation
  • Max Hydrogen on The Menace of Fiscal Inflation

About Us

Welcome to Alt-M, a community devoted to exploring and promoting ideas for an alternative monetary future. Our goal is to reveal the shortcomings of today’s centralized, bureaucratic, and discretionary monetary arrangements, and to bring serious consideration of real alternatives to the center stage of current monetary and financial reform debates.

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