Charalampos Fytros
The valuation of insurance liabilities has traditionally been dealt with by actuaries, who closely monitored underlying illiquid features
Author: Dan Rohde
Current Scholarship
The emergence of systemic risk: The Federal Reserve, bailouts, and monetary government at the limits
Onur Özgöde
Why does the Federal Reserve bail banks out in violation of a core principle of free-market capitalism: private gain–private loss?
Current Scholarship
The New Bailments
Danielle D'Onfro
The rise of cloud computing has dramatically changed how consumers and firms store their belongings. Property that owners once managed directly now exists primarily on infrastructure maintained by intermediaries.
Announcement
CUHK LAW Greater China Legal History Seminar Series- ‘The History of Central Banking in Hong Kong, Mainland China and Singapore’ by Ms. Lillian Cheung, Prof. Chao Xi & Prof. Christian Hofmann (Online)
CUHK LAW Greater China Legal History Seminar Series- ‘The History of Central Banking in Hong Kong, Mainland China and Singapore’ by Ms. Lillian Cheung, Prof. Chao Xi & Prof. Christian Hofmann (Online)
Announcement
Harvard LPE Association Call for Submissions — Law and Political Economy Writing Prize
Call for Submissions — Law and Political Economy Writing Prize
Current Scholarship
The Intellectual Origins of Sudan’s “Decades of Solitude,” 1989–2019
Alden Young
The three decades between 1989 and 2019, when the National Salvation regime of Islamists and the military ruled Sudan, are now frequently remembered by international and Sudanese policymakers, politicians, intellectuals, and business elites as “lost decades” or “decades of solitude”
Current Scholarship
Technocratic Pragmatism, Bureaucratic Expertise, and the Federal Reserve
Peter Conti-Brown & David A. Wishnick
The Federal Reserve (Fed) regularly faces novel challenges to its broad statutory mandates. Often, these challenges—from financial crises to pandemics to climate change—raise a critical question.
Current Scholarship
Borrowing Equality
Abbye Atkinson
For the last fifty years, Congress has valorized the act of borrowing money as a catalyst for equality, embracing the proposition that equality can be bought with a loan.
Current Scholarship
Does the national debt matter?
L. Randall Wray & Yeva Nersisyan
In this paper, we use the Modern Money Theory framework to analyze whether government debt (and deficits) in a country with its own sovereign currency presents a problem.
Current Scholarship
Banking on Democracy
Mehrsa Baradaran
The financial system is unequal and exclusionary even as it is supported, funded, and subsidized by public institutions.
Announcement
The Modern Money Network Humanities Division (MMNHD) Launches Moneyontheleft.org
The Modern Money Network Humanities Division (MMNHD) is thrilled to launch Moneyontheleft.org, a new space for collaborative, interdisciplinary, and multimedia engagement with progressive political economy.
Current Scholarship
Money on the Left Podcast: Money as a Constitutional Project with Christine Desan
Money on the Left Podcast: Money as a Constitutional Project with Christine Desan
The Money on the Left Editorial Collective presents a classic episode from our archives along with a previously unavailable transcript & graphic art. In this episode, we are joined by Christine Desan
Current Scholarship
A Route to Commons-Based Democratic Monies? Embedding the Governance of Money in Traditional Communal Institutions
Ester Barinaga
The financial crisis of 2008 resulted, among other, on a popular awareness that the monetary system was not working for the interest of the many.
Current Scholarship
Why Financial Regulation Keeps Falling Short
Dan Awry & Kathryn Judge
This article argues that there is a fundamental mismatch between the nature of finance and current approaches to financial regulation.
Announcement
2021-22 postdoc at the Heilbroner Center for Capitalism Studies – Currency and Empire: Monetary Policy, Race, and Power
2021-22 postdoc at the Heilbroner Center for Capitalism Studies
Announcement
Cambridge University | Center for the Study of Global Human Movement Webinar (11 December): In Conversation: Book talk with Albena Azmanova
Cambridge University | Center for the Study of Global Human Movement Webinar (11 December): In Conversation: Book talk with Albena Azmanova
Summer 2020
Public Money: Digital Dollars? Fed Acccounts? Postal Banking?
Contributors: John Crawford, Morgan Ricks, Lev Menand, Aaron Klein, Robert Hockett, Abbye Atkinson, Leonidas Zelmanovitz, Bruno Meyerhof Salama, Sheila Bair, James McAndrews, Yesha Yadav, Sarah Bloom Raskin, Mehrsa Baradaran, Christopher Giancarlo, Saule T. Omarova, and Nakita Q. Cuttino.
Roundtable: Public Money
S. Omarova, The Other Half of the FedAccounts Plan: What Happens on the Asset Side of the Fed’s Ledger?
November 19, 2020
Saule T. Omarova, Cornell Law School
The COVID pandemic gave a renewed sense of urgency to the idea of offering every American household and business a free digital-dollar deposit account
Announcement
Taming Capitalism before its Triumph: Author meets critics online – Nov 17
Taming Capitalism before its Triumph: Author meets critics online - Nov 17
Announcement
Searching for panelists for a panel on the political economy of commodity money (March 11-14, 2021)
Searching for panelists for a panel on the political economy of commodity money (March 11-14, 2021)
Announcement
Nov 9 | “Capitalism on Edge: on Radical Change without Crisis, Revolution, or Utopia” (book talk)
Nov 9 | “Capitalism on Edge: on Radical Change without Crisis, Revolution, or Utopia" (book talk)
Announcement
Nov 9 | Online | Aaron Jakes – Egypt’s Occupation | Book Launch & Roundtable
Nov 9 | Online | Aaron Jakes - Egypt's Occupation | Book Launch & Roundtable
Announcement
Happening Tomorrow — Third Conference on Law and Macroeconomics
The Third Conference on Law and Macroeconomics is taking place tomorrow!
Announcement
The CMS Colloquium Series Livestreamed, Thursday @ 5pm – “New Money: How Payment Became Social Media”, Lana Swartz
The CMS Colloquium Series Livestreamed, Thursday @ 5pm - “New Money: How Payment Became Social Media”, Lana Swartz
Roundtable: Public Money
A. Atkinson, On Equity within Public-Sector Banking Initiatives
October 6, 2020
Abbye Atkinson, Berkeley Law
To the extent that “banking [is] the business model of money creation,”[1] it is difficult to conceive of it in truly humanistic terms.
Roundtable: Public Money
L. Zelmanovitz and B. Meyerhof Salama, Central Bank Digital Currency: the Hidden Agenda
October 16, 2020
Leonidas Zelmanovitz and Bruno Meyerhof Salama
Calls for the Federal Reserve (Fed) to consider a Central Bank Digital Currency (CBDC) gained steam after the release last year of a white paper by Facebook and associates
Roundtable: Public Money
R. Hockett, The Inclusive Value Ledger: A Public Platform for Digital Dollars, Digital Payments, and Digital Public Banking
September 28, 2020
Robert Hockett, Cornell Law School
One fruitful way of thinking about money is simply as ‘that which pays’ in a payments system or ‘that which counts’ in a system of transaction-associated value accounting.
Roundtable 3: Race and Money
K-Sue Park, How Did Redlining Make Money?
September 25, 2020
K-Sue Park, Georgetown Law
One of the principal insights and analytical charges presented by scholars of racial capitalism is that racism makes money.
Roundtable: Public Money
J. McAndrews, Designing Financial Services for People with Low and Uncertain Income
September 1, 2020
James McAndrews, TNB USA Inc., and the Wharton Financial Institutions Center
The Center for Responsible Lending reported in June 2020 that U.S. banks collected over $11 billion in overdraft fees annually
Roundtable: Public Money
S. Raskin, What to Do While Waiting for Fed Accounts
August 27, 2020
Sarah Bloom Raskin, Duke University
My children couldn’t quite wrap their heads around the scene: a long line of cars snaking across a vast parking lot, inching slowly toward the food bank’s delivery window.
Current Scholarship
Book Review: Law and Macroeconomics as Mainstream
Bruno Meyerhof Salama, University of California, Berkeley - School of Law
In spite of its name, economic analysis of law is mostly unconcerned with money and markets. In a recently published book.
Roundtable: Public Money
A. Klein, How to Fix the Covid Stimulus Payment Problem: Accounts, Information, and Infrastructure
August 18, 2020
Aaron Klein, Brookings Institution
The financial response to the Covid crisis demonstrated the inability of the federal government to rapidly get money to people during times of crisis.
Roundtable: Public Money
M. Ricks, J. Crawford, L. Menand, FedAccounts: Digital Dollars
August 10, 2020
Morgan Ricks, Vanderbilt University John Crawford, University of California Hastings College of the Law Lev Menand, Columbia Law School
In 1989 the Board of Governors of the Federal Reserve System came out against the “basic banking” legislation that Congress
Policy Spotlight
Lacewell v. OCC
Banking: Intermediation or Money Creation
S. Das, Roundtable Wrap-up
August 3, 2020
Sannoy Das, Harvard Law School
In this brief post, I attempt to summarize the main themes that emerged from the Just Money roundtable on banking. In ten blog posts between
Roundtable 3: Race and Money
P. J. Hudson, Currency, Colonialism, and Monetary History from Below
July 28, 2020
Peter James Hudson, University of California, Los Angeles
When discussions arose concerning the potential redesign of the US twenty-dollar bill, with the visage of Andrew Jackson replaced by an image of abolitionist Harriet Tubman
Money in the Time of Coronavirus
S. Das, Roundtable Wrap-up
June 29, 2020
Sannoy Das, Harvard Law School
The Just Money roundtable was convened to analyze policy responses, emerging mostly from monetary authorities, to the economic dislocations that occurred or became imminent as the coronavirus crisis hit every corner of the globe.
Announcement
Virtual Roundtable— “Making Money American: The Monetary Regimes of the New United States”
Virtual Roundtable— "Making Money American: The Monetary Regimes of the New United States"
Announcement
D-DebtCon Happening This Week!
D-DebtCon Happening This Week!
Announcement
Launch of the Financial History Network and Webinar Series
Justmoney.org is passing along the below announcement from our colleagues at the Financial History Network
Announcement
The LPE Project is Hiring!
The LPE Project is Hiring a Deputy Director!
Virtual Currencies and the State
D. Golumbia, Why Do We Keep Taking the Cryptocurrency/Blockchain Scam Seriously?
July 3, 2020
David Golumbia, Virginia Commonwealth University
In the longer piece on which this one follows, I do what I can to show that nearly all of the claims for cryptocurrency and blockchain are false, and most are based on outright fraud.
Roundtable 3: Race and Money
M. Ralph, Finance and Violence
July 17, 2020
Michael Ralph, New York University
In the past few months, longstanding critiques about mass incarceration and police abuse have pushed a plea familiar to abolitionists into commercial journalism and casual conversation.
Current Scholarship
Technology v Technocracy: Fintech as a Regulatory Challenge
Saule Omarova, Cornell Law School
This article examines fintech as a systemic force disrupting the currently dominant technocratic paradigm of financial regulation.
Policy Spotlight
The Phenomenon of Complementary Currencies
Roundtable 3: Race and Money
D. Jenkins, Debt and the Underdevelopment of Black America
June 15, 2020
Destin Jenkins, University of Chicago
In his 1983 classic, How Capitalism Underdeveloped Black America, Manning Marable asked
Current Scholarship
Corona Crisis: Lessons of the Stress Test
Perry G Mehrling, Pardee School of Global Studies, Boston University
Perry Mehrling talks to Boston Economic Club June 3, 2020 about the Coronavirus Crisis.
Announcement
Baker Library Collection of American Currency
Baker Library Collection of American Currency
Current Scholarship
Jim Crow Credit
Mehrsa Baradaran, University of California Irvine
The New Deal created a separate and unequal credit market—high-interest, non-bank, installment lenders in black ghettos
Virtual Currencies and the State
G. Vidan, Decentralization: The Rise of a Hazardous Spec
June 12, 2020
Gili Vidan, Harvard University
In 2017, Americans wanted to know “what is Bitcoin?”