About Us

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. (read more)
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Call for Papers
Money as a Democratic Medium 2.0

We are delighted to announce Money as a Democratic Medium 2.0. The Conference will be held at two sites in order to maximize participation while minimizing carbon impacts: Cambridge, MA (Harvard Law School, June 15-17, 2023) and Hamburg, Germany (the Hamburg Institute for Social Research and THE NEW INSTITUTE,  June 15-16, 2023).  The Conference is open to all students of money, credit, and finance, the monetary system, and the modern economy, including members of the public. We will offer robust online access and we encourage distant participants to join us virtually. 
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Money as a Democratic Medium 2.0

Fall 2022
Money, Sanctions and International Law

Contributors:  Rawi Abdelal/Alexandra Vacroux, Charlotte Beaucillon, Ben Coates, Anna Gelpern, David Singh Grewal, Daniel Nielson, Stephen Park/Suzanne Katzenstein, Adam Tooze.

This roundtable deals with questions about the system of international monetary production, international law, and politics that have come into sharp relief in the context of economic sanctions issued against Russia.
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Money, Sanctions and International Law

Fall 2022 - Money, Sanctions and International Law
Sanctions and Decoupling After Neoliberalism

David Singh Grewal, UC Berkeley
We are once again in the awful position of testing the proposition that commercial integration among nations leads to peace. And, to the extent that it clearly does not, we are left wondering about how effective either monetary and economic sanctions can be—and, more broadly, what economic “decoupling” looks like in a post-neoliberal world.
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Sanctions and Decoupling After Neoliberalism

Fall 2022 - Money, Sanctions and International Law
International Law and 21st Century Financial Warfare

Suzanne Katzenstein, Duke University; Stephen Park, University of Connecticut
Financial sanctions of the current scope and magnitude can no longer be relied upon to enforce international law in a manner that complies with it. Relying on international law to constrain the impacts of warfare—here, financial warfare—may also risk legitimizing its expanding use.
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International Law and 21st Century Financial Warfare

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”
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The Intellectual Origins of Sudan’s “Decades of Solitude,” 1989–2019

Current Scholarship
The Janus Faces of Money, Property, and Governance: Fiscal Finance, Empire, and Race

Jamee Moudud, Sarah Lawrence College

This paper contributes to the literature on racial capitalism by deploying a key insight of the Law and Political Economy tradition, which is that politics acting through the law plays a constitutive role in the monetary hardwiring of economies and their property rights.
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The Janus Faces of Money, Property, and Governance: Fiscal Finance, Empire, and Race

Current Scholarship
The Key to Value (2.0): The Debate Over Commensurability in Neoclassical and Credit Approaches to Money

Christine Desan, Harvard Law School

Neoclassical and credit approaches to money represent dramatically different theories of value. According to the way money is created, individuals will not be equally situated in the process that generates prices. Decisions about value are made in the wake of that fact.
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The Key to Value (2.0): The Debate Over Commensurability in Neoclassical and Credit Approaches to Money

Current Scholarship
Banking on a Curve: How to Restore the Community Reinvestment Act

Peter Conti-Brown, The Wharton School, University of Pennsylvania; Brookings Institution; and Brian D. Feinstein, The Wharton School, University of Pennsylvania

The Community Reinvestment Act (CRA) of 1977 has failed to meaningfully reduce the prevalence of “banking deserts” across lower-income communities or to reduce the racial wealth gap. As a corrective, banks should be graded on a curve, which would enable the CRA to fulfill its promise: to expand access to credit, spur investment in overlooked areas, and combat racial inequities through the financial system.
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Banking on a Curve: How to Restore the Community Reinvestment Act

Current Scholarship
Gold Clauses in the Capital Markets of the Early Twentieth Century

David Fox, University of Edinburgh

This paper scratches beneath the doctrinal analysis of gold clauses to the commercial and political purposes served by such clauses. It considers gold-clause contracts as historical instances of the early international bond markets in operation, and the litigation over them as one reaction to the financial instability of the era.
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Gold Clauses in the Capital Markets of the Early Twentieth Century

Current Scholarship
Towards a sociology of state investment funds? sovereign wealth funds and state-business relations in Saudi Arabia

Alexis Montambault Trudelle, School of Social and Political Science, University of Edinburgh

What kind of power relations are maintained or established in the process of sovereign wealth funds development? This article contributes to rentier state debates and broader political economy scholarship by showing how state investment funds hinge on ancillary networks of social institutions, often generated from ingrained formal and informal interactions between states and society.
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Towards a sociology of state investment funds? sovereign wealth funds and state-business relations in Saudi Arabia