On this website, we approach money as a legal project. Created to meet demands both public and private, money depends on law for its definition, issue, and operation. That legal structure of money – its design – matters deeply. In the words attributed to an early banker, “those who create and issue money . . . direct the policies of government and hold in the hollow of their hands the destiny of the people.” Our aim is to encourage discussion, debate, and scholarship on money’s design and its reform towards a world that is as just as it is (economically) productive. (See more)
The emergence of systemic risk: The Federal Reserve, bailouts, and monetary government at the limits
Why does the Federal Reserve bail banks out in violation of a core principle of free-market capitalism: private gain–private loss?