Currency Board

Central banks issue currency and exercise wide discretion over the conduct of monetary policy. Although widespread today, central banks are relatively new institutional arrangements. In 1900, there were only 18 central banks in the world. By 1940, 40 countries had them, and today there are 174. Of those, 6 are bound by currency board rules that do not permit discretionary monetary policies. In addition, there are seven monetary authorities that operate as stand-alone currency boards.

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Exclusive Interview With Jerry Bowyer, Part I

August 26, 2014

An extended interview with Jerry Bowyer: some thoughts on the "rediscovery of a virtuous monetary system."

BOOK REVIEWS

Signs Of The Gold Standard Emerging From Great Britain?

by Ralph Benko

... Given Kwarteng’s current and, likely, future importance to the world monetary discourse it really would be invaluable were he to master the arguments of Jacques Rueff, and of Lewis Lehrman, as well as those of Triffin (who shared the same diagnosis while offering a different prescription).

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The Federal Reserve System's James Narron and David Skeie, career officials with the Federal Reserve System, are two eminent historically erudite figures.  Writing in the New York Federal Reserve Bank's online publication, Liberty Street Economics, they recently provided a continuation of their valuable historical "revue," Crisis Chronicles: The Collapse of the...

BLOGS


Paul Krugman's Projection

Ralph J. Benko  |  Jul 14, 2014
On July 6th, Nobel economics laureate and Princeton Professor launched, in the New York Times, one of his occasional polemics, entitled Conservative Delusions About Inflation, against proponents of the gold standard.  Krugman Caricature under creative commons license from DonkeyHotey As usual, Prof. Krugman is, conveniently for the position he takes, beyond lopsided...
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An article headline in Saturday’s Wall Street Journalread “Rate Talk Heats Up Within The Fed.” As Journalreporters Jon Hilsenrath and Michael Derby...
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Oct 05, 2012
Key Monetary Writings
Lawrence H. White

Myth 11: Setting the New Gold Parity is Too Hard

The danger of setting the new gold parity too low (too few dollars per ounce of gold) is exemplified, as...
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Kathleen M. Packard, Publisher
Ralph J. Benko, Editor

In Memoriam
Professor Jacques Rueff
(1896-1978)

Now Available on Amazon and from The Lehrman Institute

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