Alternative Money University: Reading List
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This is a private webpage containing preparation materials for the first annual Alternative Money University. There will be 8 lectures and 2 keynote speeches over the course of the workshop. Each faculty member has provided required readings that will help students get the most out of their lectures. Below are links to those readings organized by lecture topic:
The Evolution of Money and Banks
George Selgin, Director, Center for Monetary and Financial Alternatives, Cato Institute
- Lawrence White, "The Evolution of a Free Banking System"
- George Selgin and Lawrence White, "A Fiscal Theory of Government's Role in Money" (1999)
Free Banking in Theory and in Practice
Lawrence H. White, Professor of Economics, George Mason University
- Lawrence White, "Renewing the Search for a Monetary Constitution, Chapter 9: Free Banking in History and Theory"
- Lawrence White, "Theory of Monetary Institutions, Chapter 3: Money Issue by Unrestricted Banks"
- George Selgin, "Real and Pseudo Free Banking" (2015)
- George Selgin, "Hayek and Free Banking" (2015)
Cryptocurrency: Private Currency of the Future?
Lawrence H. White, Professor of Economics, George Mason University
- Lawrence H. White, "The Market for Cryptocurrencies" (2015)
- Lawrence H. White, "How a Bitcoin System is Like and Unlike a Gold Standard" (2018)
- Lawrence H. White, "Theory of Monetary Institutions, Chapter 2: Commodity Money"
- Lawrence H. White, "Kareken-Wallace and Cryptoassets: Why Bitcoin and Beam Are Not Perfect Substitutes"
The Place of Monetary Institutions in Monetary Theory
Randall Wright, Ray B. Zemon Professor of Liquid Assets, University of Wisconsin School of Business
- Randall Wright, "Liquidity: A New Monetarist Perspective"
Not required to read the whole essay
Managing Fiat Money: Rules vs. Discretion
Scott Sumner, Ralph G. Hawtrey Chair of Monetary Policy, Mercatus Center at George Mason University
- Ben Bernanke, "The Taylor Rule: A Benchmark for Monetary Policy?" (2015)
- John Taylor, "A Historical Analysis of Monetary Policy Rules" (1999)
Just read pp 319-340
Theoretical Underpinnings of Market Monetarism
David Beckworth, Director, Monetary Policy Program, Mercatus Center at George Mason University
- Edward Nelson and Bennet McCallum, "Money and Inflation: Some Critical Issues" (2010)
- David Beckworth and Josh Hendrickson, "Money Still Matters" (2015)
- David Beckworth, "Facts, Fears, and Functionality of NGDP Targeting" (2019)
The Role of Monetary Policy in the Great Recession
David Beckworth, Director, Monetary Policy Program, Mercatus Center at George Mason University
- David Beckworth and Ramesh Ponnuru, "Subprime Reasoning on Housing," New York Times (2016)
- David Beckworth, "The Monetary Policy Origins of the Eurozone Crisis" (2016)
Monetary Policy in a Post-Crisis World
Scott Sumner, Ralph G. Hawtrey Chair of Monetary Policy, Mercatus Center at George Mason University