Venezuela's National Assembly is actively debating how to end the world's highest inflation rate and retire the bolivar, the world's worst-performing currency. One of us is advising that debate ...

In an era dominated by digital innovation, the concept of central bank digital currencies (CBDCs) is emerging as a groundbreaking evolution in the financial sector. Unlike traditional forms of money, ...

The modern monetary system, built on fiat money, has weak foundations similar to the Leaning Tower of Pisa, risking economic instability and collapse. Historical debasement practices, like those of ...

2026 will likely be the year when we will start to see serious flaws, with the pure fiat global monetary system exposed. The root cause is the need for accommodating central bank policies in the face ...

Forbes contributors publish independent expert analyses and insights. James Broughel is an economist focused on the economics of regulation. With the recent passage of the GENIUS Act, the United ...

This book review appeared in the Winter 1997/98 issue of The Independent Review. A major theme of Barry Eichengreen’s accessible history of the international monetary system since 1850 is that pegged ...

Endogenous money theory emphasises that the supply of money arises from the lending activities of banks rather than from a central authority alone. Within modern monetary systems, commercial banks ...

The past week has seen the Trump Administration upending US support for two critical facets of the post-war international order: the rules-based arrangements for international trade and the Western ...