Many observers are treating China’s plan for a central bank digital currency (CBDC) as a strictly progressive, technical move that other nations should emulate. The United States, in particular, is concerned that China already has a large head start, which may threaten the dollar’s dominance as a…
“Why should we not let people use freely what money they want to use? [They] ought to have the right to decide whether they want to buy or sell for francs, pounds, dollars, D-marks, or ounces of gold. I have no objection to governments issuing money, but…
Remember the Wide World of Sports? Spanning the globe to bring you the constant variety of sport… the thrill of victory… and the agony of defeat… the human drama of athletic competition. I loved it. You never knew exactly which sport you’d be watching when you tuned…
This is the third and final essay in my series on proposals to help reduce the number of unbanked households in America. In my prior essays, I examined the history of the postal savings system between 1910 and 1966, and I evaluated present-day calls to allow the…
The Fall 2020 issue of the Cato Journal covers several key topics in monetary policy: (1) the risk to the Federal Reserve’s independence and credibility as it drifts into fiscal policy; (2) the effectiveness of negative interest rates as a tool of monetary policy; (3) the impact…