Center for Monetary and Financial Alternatives

The Center for Monetary and Financial Alternatives is dedicated to revealing the shortcomings of today’s centralized, bureaucratic, and discretionary monetary and financial-regulatory systems and to identifying, studying, and promoting alternatives more conducive to a stable, flourishing, and free society. The Center brings together unparalleled expertise with an Executive Advisory Council made up of financial experts, an Academic Advisory Council that includes many of the world’s leading monetary economists, and multiple scholar affiliates as adjuncts, senior fellows, and full-time experts at Cato. The Center engages with policymakers, academics, students, and the public through original research, public policy analysis, educational events, multimedia resources, and its blog, Alt-M.org.

Executive Advisory Council

  • John A. Allison, Former President and CEO, Cato Institute, former Chairman and CEO, BB&T Corporation, and Chair, Executive Advisory Council, Center for Monetary and Financial Alternatives
  • Sean Fieler,  President of Equinox Partners, L.P. and the Kuroto Fund, L.P
  • Robert Gelfond, CEO and Founder, MQS Management
  • James Grant, Founder and Editor, Grant’s Interest Rate Observer
  • Richard Kovacevich, Chairman Emeritus, Wells Fargo and Co.
  • Robert L. Luddy,  Founder and CEO, CaptiveAire
  • George Melloan,  Former Deputy Editor, Wall Street Journal
  • Judy Shelton, Co-Director, Sound Money Project, Atlas Network
  • Jeffrey S. Yass, Managing Director, Susquehanna International Group
 
 

Council of Academic Advisors

  • Leszek Balcerowicz,  Professor of Economics, College of Europe; former Chairman of the National Bank of Poland, and former Finance Minister and Deputy Prime Minister
  • Guillermo Calvo, Professor of Economics and Director of the Program in Economic Policy Management, Columbia University
  • Kenneth French,  Carl E. and Catherine M. Heidt Professor of Finance, Tuck School of Business, Dartmouth College
  • Edward J. Kane, Professor of Finance, Boston College
  • George Kaufman, John F. Smith Jr. Professor of Finance and Economics, Loyola University Chicago
  • David Laidler, Professor of Economics (Emeritus), University of Western Ontario
  • Bennett T. McCallum, H. J. Heinz Professor of Economics, Carnegie Mellon University
  • J. Huston McCulloch, Professor Emeritus, Ohio State University, and Adjunct Professor, New York University
  • Vernon L. Smith, Nobel Laureate (Economics) and Professor of Economics, Chapman University
  • John B. Taylor, Mary and Robert Raymond Professor of Economics, Stanford University
  • Richard H. Timberlake, Professor Emeritus (Economics), University of Georgia
  • William R. White, Chairman, Economic Development and Review Committee, OECD  (Paris); former Economic Adviser and Head of the Monetary and Economic Department, Bank for International Settlements
  • Geoffrey Wood, Professor of Monetary Economics (Emeritus), University of Buckingham
  • Randall Wright, Ray Zemon Professor of Liquid Assets and Professor of Economics, University of Wisconsin-Madison
  • Leland B. Yeager, Professor Emeritus (Economics), Auburn University and University of Virginia
     

Of Special Note

Wall Street vs. The Regulators: Public Attitudes on Banks, Financial Regulation, Consumer Finance, and the Federal Reserve

Wall Street vs. The Regulators: Public Attitudes on Banks, Financial Regulation, Consumer Finance, and the Federal Reserve

A new Cato Institute 2017 Financial Regulation national survey of 2,000 U.S. adults finds that Americans distrust government financial regulators as much as they distrust Wall Street. Nearly half (48%) have “hardly any confidence” in either. Americans do not think that regulators help banks make better business decisions (74%) or better decisions about how much risk to take (68%). Instead, Americans want regulators to focus on preventing banks and financial institutions from committing fraud (65%) and ensuring banks and financial institutions fulfil their obligations to customers (56%).

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Multimedia

The Regulators Are Coming for Bitcoin

As cryptocurrencies hit new highs, is federal regulation far behind? And if it is, can regulators really do anything to crack down on these decentralized networks? Jerry Brito of Coin Center offers an analysis.

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Events

Alternative Money University

Alternative Money University (AMU) is an academic workshop for advanced undergraduate and beginning graduate students with a particular interest in monetary economics. During three days of intensive seminars, students will learn from leading scholars in the field about subjects not typically addressed in undergraduate or graduate economics courses — including topics in monetary history, the theory and practice of monetary policy, and the workings of unconventional monetary arrangements.

About the program

Your Money’s No Good Here

Most of the time, one person’s cash is just as acceptable as the next person’s. Having cash in hand is good enough for any purchase one might wish to make. Federal securities laws do not adhere to this principle, however. While securities in companies that have gone public are generally open for anyone to buy, federal regulations restrict investors’ access to the private securities market, preventing them from taking the risks necessary to make a return.