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Ideas for an Alternative Monetary Future

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Ideas for an Alternative Monetary Future

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The New Deal and Recovery, Part 4: FDR's Fed

George Selgin/July 6, 2020July 7, 2020 /Leave a comment
"Roosevelt had conducted an active monetary and fiscal program of recovery...working along lines suggested by Keynes." Eric Rauchway, The Money Makers, p. xvi. As we saw in the last installment to this series, New Deal...
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That New Deal fiscal policy contributed little to recovery from the Great Depression, and probably contributed to the setback of 1937-8.

The New Deal and Recovery, Part 3: The Fiscal Stimulus Myth

George Selgin/June 29, 2020July 7, 2020 /12 Comments
Schulp discusses the Lie v. SEC supreme court case

Liu: Reining in the SEC's Enforcement Remedies

Jennifer Schulp/June 26, 2020June 25, 2020 /Leave a comment
The New Deal

The New Deal and Recovery, Part 2: Inventing the New Deal

George Selgin/June 22, 2020July 6, 2020 /5 Comments
Vice Chair Clarida holds the Cato Journal

Fed Policy: A Shadow Review—New Issue of the Cato Journal

Amanda Griffiths/June 20, 2020June 19, 2020 /Leave a comment

Money & Politics

The New Deal and Recovery, Part 4: FDR's Fed

George Selgin/July 6, 2020July 7, 2020 /Leave a comment
"Roosevelt had conducted an active monetary and fiscal program of recovery...working along lines suggested by Keynes." Eric Rauchway, The Money Makers, p. xvi. As we saw in the last installment to this series, New Deal...
Continue reading
That New Deal fiscal policy contributed little to recovery from the Great Depression, and probably contributed to the setback of 1937-8.

The New Deal and Recovery, Part 3: The Fiscal Stimulus Myth

George Selgin/June 29, 2020July 7, 2020 /12 Comments
The New Deal

The New Deal and Recovery, Part 2: Inventing the New Deal

George Selgin/June 22, 2020July 6, 2020 /5 Comments
Vice Chair Clarida holds the Cato Journal

Fed Policy: A Shadow Review—New Issue of the Cato Journal

Amanda Griffiths/June 20, 2020June 19, 2020 /Leave a comment
Should the U.S. government create a digital dollar?

Should the U.S. Government Create a Token-Based Digital Dollar?

Larry White/June 19, 2020June 19, 2020 /1 Comment

The Fed & Central Banks

The New Deal and Recovery, Part 4: FDR's Fed

George Selgin/July 6, 2020July 7, 2020 /Leave a comment
"Roosevelt had conducted an active monetary and fiscal program of recovery...working along lines suggested by Keynes." Eric Rauchway, The Money Makers, p. xvi. As we saw in the last installment to this series, New Deal...
Continue reading
Vice Chair Clarida holds the Cato Journal

Fed Policy: A Shadow Review—New Issue of the Cato Journal

Amanda Griffiths/June 20, 2020June 19, 2020 /Leave a comment
Should the U.S. government create a digital dollar?

Should the U.S. Government Create a Token-Based Digital Dollar?

Larry White/June 19, 2020June 19, 2020 /1 Comment

The Fed's Corporate Lending Facilities: A Case of Pseudo Markets

James Dorn/May 25, 2020May 29, 2020 /2 Comments

Catch-11

George Selgin/May 13, 2020May 13, 2020 /Leave a comment

Monetary Policy Primer

commodity money, monetary policy primer, federal reserve, fiat money, alternative monetary policy, monetary alternatives

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...
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lender of last resort, bank runs, panics, monetary primer

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

George Selgin/August 8, 2017February 28, 2019 /16 Comments
monetary rules, discretionary monetary policy, time-inconsistency problem, stable spending, NGDP targeting

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

George Selgin/May 11, 2017February 28, 2019 /10 Comments
Inflation Expectations, interest on reserves, interest rate targeting, natural rate of interest, QE

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

George Selgin/January 10, 2017February 28, 2019 /30 Comments
asset bubbles, Great Recession, inflation targeting, monetary policy, NGDP targeting

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

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

Financial Markets

Paycheck Protection Program: Who Lent to Whom, and Where?

Diego Zuluaga/June 18, 2020June 18, 2020 /1 Comment
It’s been 11 weeks since Congress passed the CARES Act, which, among its many other provisions, established the Paycheck Protection Program (PPP). Nearly three-quarters of U.S. small businesses have so far availed themselves of this...
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Opening the market to new possibilities for investors.

Let Investors Decide, Part II

Jennifer Schulp/June 10, 2020June 29, 2020 /Leave a comment
Consumers should be free to choose their bank,.

To Help the Unbanked, Break the Industrial Bank Taboo

Diego Zuluaga/June 5, 2020June 4, 2020 /1 Comment
Investors are being locked out by the SEC

Let Investors Decide, Part 1

Jennifer Schulp/June 1, 2020June 29, 2020 /1 Comment
Taking a closer look at some suspicious statistics.

FinCEN's Suspicious Statistics

Diego Zuluaga/May 22, 2020May 21, 2020 /Leave a comment

Fiat Money

Vice Chair Clarida holds the Cato Journal

Fed Policy: A Shadow Review—New Issue of the Cato Journal

Amanda Griffiths/June 20, 2020June 19, 2020 /Leave a comment
Cato’s Annual Monetary Conference last November hosted a “shadow review” of the Federal Reserve’s own self-review, dedicated to examining “whether the U.S. monetary policy framework can be improved to meet future challenges.” The articles in...
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Should the U.S. government create a digital dollar?

Should the U.S. Government Create a Token-Based Digital Dollar?

Larry White/June 19, 2020June 19, 2020 /1 Comment
A budget in chains.

The Constitutional Case for the Fed's Treasury Backstops

George Selgin/April 13, 2020April 13, 2020 /Leave a comment
A coin in decay.

That Darn Coin

George Selgin/March 24, 2020March 24, 2020 /13 Comments
gold, bimetallism, silver, gold standard, bitcoin

Robert Shiller on Bitcoin and Bimetallism

Larry White/February 11, 2020February 11, 2020 /2 Comments

Digital Money

Should the U.S. government create a digital dollar?

Should the U.S. Government Create a Token-Based Digital Dollar?

Larry White/June 19, 2020June 19, 2020 /1 Comment
Proposals for “central bank digital currency” (CBDC) come in two basic types: account-based and token-based. I have been critical of proposals for an account-based system. Until recently, there didn’t seem to be much active interest...
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Libra has another shot.

Libra's Star May Rise Again

Diego Zuluaga/April 16, 2020 /1 Comment
SEC, regulation, finreg, crypto, cryptocurrency

The Peirce Safe Harbor Could Be Transformative

Diego Zuluaga/February 12, 2020March 12, 2020 /Leave a comment
gold, bimetallism, silver, gold standard, bitcoin

Robert Shiller on Bitcoin and Bimetallism

Larry White/February 11, 2020February 11, 2020 /2 Comments
fed independence, alternative currencies, fed, federal reserve, cato monetary conference

Inside Cato's 37th Annual Monetary Conference: A Shadow Review of Fed Policy

Amanda Griffiths/December 19, 2019January 2, 2020 /1 Comment

Commodity Money

Vice Chair Clarida holds the Cato Journal

Fed Policy: A Shadow Review—New Issue of the Cato Journal

Amanda Griffiths/June 20, 2020June 19, 2020 /Leave a comment
Cato’s Annual Monetary Conference last November hosted a “shadow review” of the Federal Reserve’s own self-review, dedicated to examining “whether the U.S. monetary policy framework can be improved to meet future challenges.” The articles in...
Continue reading
Should the U.S. government create a digital dollar?

Should the U.S. Government Create a Token-Based Digital Dollar?

Larry White/June 19, 2020June 19, 2020 /1 Comment

The Classical Gold Standard Can Inform Monetary Policy

James Dorn/March 4, 2020March 3, 2020 /8 Comments
gold, bimetallism, silver, gold standard, bitcoin

Robert Shiller on Bitcoin and Bimetallism

Larry White/February 11, 2020February 11, 2020 /2 Comments
fed independence, alternative currencies, fed, federal reserve, cato monetary conference

Inside Cato's 37th Annual Monetary Conference: A Shadow Review of Fed Policy

Amanda Griffiths/December 19, 2019January 2, 2020 /1 Comment

Free Banking

In Memoriam R.H.T.

George Selgin/May 26, 2020May 26, 2020 /7 Comments
I don't think of myself as an especially lucky fellow. I've never bought a lottery ticket, or wagered more than a few bucks at a time (and that only in my impetuous youth) on horses,...
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Friday Flashback: Fedophilia

George Selgin/January 17, 2020February 14, 2020 /17 Comments
fed independence, alternative currencies, fed, federal reserve, cato monetary conference

Inside Cato's 37th Annual Monetary Conference: A Shadow Review of Fed Policy

Amanda Griffiths/December 19, 2019January 2, 2020 /1 Comment
mmt, banking regulation, bank run, bank failure, regulation, free banking

Warren Mosler and the Great American Banking Myth

George Selgin/December 3, 2019January 2, 2020 /38 Comments
Alexander Hamilton, antebellum banking, First Bank of the United States, mercantilism, ten dollar bill

Friday Flashback: Alexander Hamilton, Banking Mercantilist

Larry White/February 22, 2019January 2, 2020 /3 Comments

Currency Boards

Vice Chair Clarida holds the Cato Journal

Fed Policy: A Shadow Review—New Issue of the Cato Journal

Amanda Griffiths/June 20, 2020June 19, 2020 /Leave a comment
Cato’s Annual Monetary Conference last November hosted a “shadow review” of the Federal Reserve’s own self-review, dedicated to examining “whether the U.S. monetary policy framework can be improved to meet future challenges.” The articles in...
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Main street open for business.

When the Fed Tried to Save Main Street

George Selgin/March 30, 2020April 6, 2020 /1 Comment
currency board fiscal policy helicopter money Hong Kong monetary policy

Handouts, Helicopters, Hong Kong Dollars, and Hogwash

George Selgin/February 26, 2020March 3, 2020 /18 Comments
fed independence, alternative currencies, fed, federal reserve, cato monetary conference

Inside Cato's 37th Annual Monetary Conference: A Shadow Review of Fed Policy

Amanda Griffiths/December 19, 2019January 2, 2020 /1 Comment
currency competition, dollarization, hyperinflation, libra, zimbabwe

The Zimbabwe Dollar, Monetary Sovereignty, and Opposition to Libra

Larry White/October 17, 2019January 2, 2020 /2 Comments

Inflation & Deflation

That New Deal fiscal policy contributed little to recovery from the Great Depression, and probably contributed to the setback of 1937-8.

The New Deal and Recovery, Part 3: The Fiscal Stimulus Myth

George Selgin/June 29, 2020July 7, 2020 /12 Comments
"[The COVID-19 crisis] wouldn't be the first time America has resorted to large-scale fiscal stimulus in a peacetime emergency. The New Deal of the 1930s, a response to the Great Depression, is probably the most...
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The boy who cried wolf.

Return of the Inflation Mongers

George Selgin/April 27, 2020May 4, 2020 /24 Comments
Ralph Nader flips out in response to Chair Powell's interest rate policy.

Ralph Nader Flips Out

George Selgin/April 10, 2020April 9, 2020 /10 Comments
Quack doctor tries to sell snake oil.

Robert Murphy on Market Monetarism

George Selgin/March 16, 2020March 16, 2020 /29 Comments

Why the Fed Shouldn't (and Can't) "Do Nothing"

George Selgin/March 3, 2020March 9, 2020 /15 Comments

Economic Thought

The New Deal

The New Deal and Recovery, Part 1: The Record

George Selgin/June 16, 2020July 6, 2020 /7 Comments
"Under the New Deal, the US economy grew at rapid rates, even for an economy in recovery." (Eric Rauchway, The Money Makers, p. 100.) Before I start telling you what "the New Deal" did and...
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The New Deal and Recovery: A New Alt-M Series

George Selgin/June 12, 2020July 6, 2020 /8 Comments

In Memoriam R.H.T.

George Selgin/May 26, 2020May 26, 2020 /7 Comments
monetary policy, cj, cato journal

Winter 2020 Cato Journal in Review: Monetary Policy, International Conflict, U.S. History, and More

Amanda Griffiths/February 19, 2020February 18, 2020 /Leave a comment
banking regulation, financial regulation, competition in banking, banking concentration, Thomas Philippon

Why There Has Been No Great Reversal in U.S. Banking

Diego Zuluaga/December 10, 2019January 2, 2020 /1 Comment

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Contributors

  • George Selgin
  • Larry White
  • Hu McCulloch
  • James Dorn
  • Diego Zuluaga
  • Jennifer Schulp

Categories

  • Banking Regulation (92)
  • Booms & Busts (34)
  • Commodity Money (69)
  • Currency Boards (18)
  • Digital Money (87)
  • Economic History (158)
  • Economic Thought (149)
  • Events (57)
  • Fiat Money (68)
  • Financial Innovation (45)
  • Financial Markets (129)
  • Free Banking (203)
  • Inflation & Deflation (71)
  • Legal Analysis (1)
  • Monetary Policy Primer (12)
  • Money & Politics (269)
  • News (187)
  • Recommended Reading (96)
  • Securities Regulation (5)
  • The Fed & Central Banks (341)
  • Uncategorized (11)

Recent Posts

  • The New Deal and Recovery, Part 4: FDR's Fed
  • The New Deal and Recovery, Part 3: The Fiscal Stimulus Myth
  • Liu: Reining in the SEC's Enforcement Remedies
  • The New Deal and Recovery, Part 2: Inventing the New Deal
  • Fed Policy: A Shadow Review—New Issue of the Cato Journal
  • Should the U.S. Government Create a Token-Based Digital Dollar?
  • Paycheck Protection Program: Who Lent to Whom, and Where?

Recent Comments

  • Selgin on On Empty Purses and MMT Rhetoric
  • Selgin on The New Deal and Recovery, Part 3: The Fiscal Stimulus Myth
  • Ray Lopez on The New Deal and Recovery, Part 3: The Fiscal Stimulus Myth
  • Benjamin Cole on The New Deal and Recovery, Part 3: The Fiscal Stimulus Myth
  • Selgin on The New Deal and Recovery, Part 3: The Fiscal Stimulus Myth

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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