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Ideas for an Alternative Monetary Future

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Ideas for an Alternative Monetary Future

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Monetary Policy 10 Years after the Crisis—New Issue of the Cato Journal

Amanda Griffiths/May 22, 2019May 25, 2019 /Leave a comment

The Spring/Summer 2019 edition of the Cato Journal, the Cato Institute’s interdisciplinary journal of public policy, is now available online. This issue features papers from Cato’s 36th Annual Monetary Conference held last November, ten years after the...

The Fed's Shifting Goalposts

George Selgin/May 16, 2019May 16, 2019 /Leave a comment

The Nice Limits of Modern Monetary Theory

George Selgin/May 10, 2019May 14, 2019 /19 Comments

The Fed's New Repo Plan

George Selgin/May 2, 2019May 3, 2019 /9 Comments

The True Winners and Losers of Financial Regulation: Remarks at the New York League of Independent Bankers

Diego Zuluaga/April 25, 2019April 25, 2019 /1 Comment

Money & Politics

The Fed's Shifting Goalposts

George Selgin/May 16, 2019May 16, 2019 /Leave a comment

When I published Floored! last October, I thought I'd said all I could say concerning the adverse consequences of the Fed's then decade-old decision to adopt a "floor"-type operating...

The Nice Limits of Modern Monetary Theory

George Selgin/May 10, 2019May 14, 2019 /19 Comments

More on Commodity Price Targeting

George Selgin/April 9, 2019April 12, 2019 /2 Comments

The Zero Lower Bound is No Reason to Punish Currency Users

Larry White/March 28, 2019March 28, 2019 /5 Comments

A War on Crime or on Business?

Diego Zuluaga/March 21, 2019March 21, 2019 /1 Comment

The Fed & Central Banks

The Fed's Shifting Goalposts

George Selgin/May 16, 2019May 16, 2019 /Leave a comment

When I published Floored! last October, I thought I'd said all I could say concerning the adverse consequences of the Fed's then decade-old decision to adopt a "floor"-type operating...

The Nice Limits of Modern Monetary Theory

George Selgin/May 10, 2019May 14, 2019 /19 Comments

The Fed's New Repo Plan

George Selgin/May 2, 2019May 3, 2019 /9 Comments

A Gold Standard Does Not Require Interest-Rate Targeting

Larry White/April 18, 2019April 20, 2019 /15 Comments

More on Commodity Price Targeting

George Selgin/April 9, 2019April 12, 2019 /2 Comments

Monetary Policy Primer

A Monetary Policy Primer, Part 12: Monetary Alternatives

George Selgin/October 31, 2017February 28, 2019 /28 Comments

This primer is supposed to introduce readers to the workings of the present U.S. monetary system. So it's only natural that it should take established...

A Monetary Policy Primer, Part 11: Last-Resort Lending

George Selgin/August 8, 2017February 28, 2019 /16 Comments

A Monetary Policy Primer, Part 10: Discretion, or a Rule?

George Selgin/May 11, 2017February 28, 2019 /10 Comments

A Monetary Policy Primer, Part 9: Monetary Control, Now

George Selgin/January 10, 2017February 28, 2019 /30 Comments

A Monetary Policy Primer, Part 8: Money in the Latest Great Muddle

George Selgin/January 4, 2017February 28, 2019 /51 Comments

Financial Markets

The Fed's Shifting Goalposts

George Selgin/May 16, 2019May 16, 2019 /Leave a comment

When I published Floored! last October, I thought I'd said all I could say concerning the adverse consequences of the Fed's then decade-old decision to adopt a "floor"-type operating...

The True Winners and Losers of Financial Regulation: Remarks at the New York League of Independent Bankers

Diego Zuluaga/April 25, 2019April 25, 2019 /1 Comment

A Positive Policy Agenda for CFPB Director Kathy Kraninger

Diego Zuluaga/April 16, 2019April 16, 2019 /Leave a comment

Powell's "Patience" is No Substitute for a Sound Monetary Rule

James Dorn/April 1, 2019April 1, 2019 /3 Comments

$modern monetary theory, endogenous money, fractional reserve banking, money multiplier$

Friday Flashback: The Problems with MMT-Derived Banking Theory

Julien Noizet/March 15, 2019March 14, 2019 /4 Comments

Fiat Money

A Gold Standard Does Not Require Interest-Rate Targeting

Larry White/April 18, 2019April 20, 2019 /15 Comments

Stephen Moore and Herman Cain, the two recent nominees to the Federal Reserve Board of Governors, have in the past suggested returning to a gold standard (although Moore now says he favors merely consulting a...

The Zero Lower Bound is No Reason to Punish Currency Users

Larry White/March 28, 2019March 28, 2019 /5 Comments

Alt-M classics: Herbert Spencer on Currency and Banking

Herbert Spencer/June 29, 2018June 29, 2018 /3 Comments

Bitcoin: More Trustworthy than Some Academic Critics

Larry White/February 22, 2018March 26, 2018 /5 Comments

More Evidence of the High Collateral Damage of a War on Cash

Larry White/January 26, 2018January 26, 2018 /6 Comments

Digital Money

Efficient "Central Bank Digital Currency" is a Fantasy

Larry White/February 11, 2019February 11, 2019 /5 Comments

In January I had the pleasure of participating on a panel on “The New Financial System: Decentralized?” at the Blockchain Economic Forum in Davos, Switzerland. (Video of the panel is here.) The panel was preceded...

Protecting Innovation: The Kin Case, Litigating Decentralization, and Crypto Disclosures

Tyler Whirty/February 1, 2019February 1, 2019 /3 Comments

Kareken-Wallace and Cryptoassets: Why Bitcoin and Beam Are Not Perfect Substitutes

Larry White/January 9, 2019January 9, 2019 /Leave a comment

Central Bank Digital Currency Threatens Financial Privacy and Economic Growth

Larry White/December 4, 2018December 4, 2018 /4 Comments

Bitcoin After 10 Years

Larry White/October 23, 2018October 23, 2018 /2 Comments

Commodity Money

A Gold Standard Does Not Require Interest-Rate Targeting

Larry White/April 18, 2019April 20, 2019 /15 Comments

Stephen Moore and Herman Cain, the two recent nominees to the Federal Reserve Board of Governors, have in the past suggested returning to a gold standard (although Moore now says he favors merely consulting a...

Venezuela's Petro: Fool's Oil

Diego Zuluaga/March 23, 2018March 22, 2018 /1 Comment

How a Bitcoin System is Like and Unlike a Gold Standard

Larry White/January 11, 2018January 11, 2018 /25 Comments

Friday Flashback: Thanksgiving: A Celebration of American Currency Competition

Bradley Jansen/November 24, 2017November 24, 2017 /1 Comment

A Monetary Policy Primer, Part 12: Monetary Alternatives

George Selgin/October 31, 2017February 28, 2019 /28 Comments

Free Banking

Friday Flashback: Alexander Hamilton, Banking Mercantilist

Larry White/February 22, 2019February 22, 2019 /3 Comments

(Originally appeared on Alt-M on December 30, 2015) *** In this past summer’s controversy over whether Alexander Hamilton’s image should be replaced on the $10 bill, outraged commentators made many extravagant claims on behalf of...

$free banking, Canadian free banking, fractional reserve banking, Austrian economics, economic history$

Bob Murphy on Free Banking in Canada

George Selgin/February 12, 2019February 12, 2019 /52 Comments

Announcing Alternative Money University Round Two

Tyler Whirty/January 10, 2019January 9, 2019 /4 Comments

Scottish Banks and the Bank Restriction, 1797-1821, Part 3

George Selgin/November 13, 2018November 14, 2018 /9 Comments

Friday Flashback: The State and 100 Percent Reserve Banking

George Selgin/November 9, 2018November 9, 2018 /27 Comments

Currency Boards

Dollar-Denominated Cryptocurrencies: Flops and Tethered Success

Larry White/April 6, 2017April 5, 2017 /20 Comments

A well-known obstacle to the greater popularity of Bitcoin as a medium of payment is the high volatility of its exchange value. This volatility results from its built-in quantity commitment: because the number of Bitcoins...

A lot of data, and good-bye

Kurt Schuler/December 31, 2014December 19, 2015 /5 Comments

Why don't we have that for free banking?

Kurt Schuler/April 12, 2014December 19, 2015 /1 Comment

It was 20 years ago today…

Kurt Schuler/April 2, 2014December 19, 2015 /Leave a comment

Have we got your back?

Kurt Schuler/March 25, 2014December 19, 2015 /17 Comments

Inflation & Deflation

Irving Fisher's Search for Stable Money: What We Can Learn

James Dorn/January 17, 2019January 17, 2019 /3 Comments

Irving Fisher’s classic treatise, The Purchasing Power of Money: Its Determination and Relation to Credit, Interest and Crises (1911), still offers valuable insights regarding monetary reform. This post examines some of Fisher’s insights and draws...

Donald Trump's Real Influence on Fed Policy

David Beckworth/August 15, 2018August 15, 2018 /5 Comments

Price Level Targeting: A Step in the Right Direction

Tate Lacey/June 12, 2018June 12, 2018 /5 Comments

Anniversary of a Fed Blunder

George Selgin/April 30, 2018April 30, 2018 /8 Comments

Bill Niskanen: Monetary Policy Radical

George Selgin/December 21, 2017January 21, 2018 /18 Comments

Economic Thought

Monetary Policy 10 Years after the Crisis—New Issue of the Cato Journal

Amanda Griffiths/May 22, 2019May 25, 2019 /Leave a comment

The Spring/Summer 2019 edition of the Cato Journal, the Cato Institute’s interdisciplinary journal of public policy, is now available online. This issue features papers from Cato’s 36th Annual Monetary Conference held last November, ten years after the...

$free banking, Canadian free banking, fractional reserve banking, Austrian economics, economic history$

Bob Murphy on Free Banking in Canada

George Selgin/February 12, 2019February 12, 2019 /52 Comments

Announcing Alternative Money University Round Two

Tyler Whirty/January 10, 2019January 9, 2019 /4 Comments

Kareken-Wallace and Cryptoassets: Why Bitcoin and Beam Are Not Perfect Substitutes

Larry White/January 9, 2019January 9, 2019 /Leave a comment

Friday Flashback: Walter Grinder Tributes

George Selgin/October 12, 2018October 12, 2018 /Leave a comment

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Contributors

George Selgin
Larry White
Hu McCulloch
James Dorn
Diego Zuluaga

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.