2027 Sound Money Review

It is my great honor to present the second edition of the Sound Money Review, our one-of-a-kind scholarly journal dedicated to advancing and immortalizing principles of sound money.

The Sound Money Review aims to curate and republish compelling and relevant research on past monetary events and monetary systems rooted in gold and silver. Re-examination of previous insights helps us better navigate the current economic uncertainty facing the U.S. today. As part of our mission, we are proud to support the next generation of scholars pursuing free-market solutions rather than an economy commanded by central planners.

This year’s journal includes in-depth analysis from economists and political scientists, while also highlighting the wisdom found in the works of an intellectual giant of history. These contributions come together to form a collection of foundational writings on this topic of increasing national and international importance.

The second edition of the Sound Money Review will feature original work from the second class of Sound Money Fellows, Antón Chamberlin, Ph.D., and Joseph Solis-Mullen.

Chamberlin, a multiple-time Mises University alumnus who received his doctorate in economics from Middle Tennessee State University, produced strong analysis on the dangers of interest rate manipulation, limitations in central planning, and the ostensible claim that American consumers are “resilient.” His research paper focuses on the convergence between sound money and monetary policy, and housing and family formation.

Solis-Mullen, a political scientist, economist, and professor at Spring Arbor University and Jackson College, studied the impact of sound money on global trade, the relationship between Wall Street and sound money, and the rise of militarism coinciding with the rise of monetary fiat expansion. His research paper reexamines the (perhaps infamous) attempt by the Hunt Brothers to corner the silver market in the late 1970s and 1980s, and the state’s role in creating the conditions that led to the attempted squeeze.

In addition to showcasing our Sound Money Fellows’ work, the Sound Money Review is proud to feature the work of Polish polymath, astronomer, and inventor Nicolaus Copernicus. Though he is best known for his work revolutionizing astronomy by disproving geocentrism and instead promoting heliocentrism, Copernicus was an astute observer of monetary realities as well.

In 1526, Copernicus wrote On the Minting of Money (Monetae Cudendae Ratio). On the 500th anniversary of the treatise, Ralph Benko, longtime gold advocate and one of 23 official witnesses before President Ronald Reagan’s Gold Commission, has edited and produced the leading edition of Copernicus’s influential writing. In it, the Polish genius displays an incredible understanding of monetary systems and the great transgression that is currency debasement and inflation long before “sound money” was an established economic concept.

For reference, Carl Menger, founder of the Austrian School of Economics, wrote his seminal works, Principles of Economics and On the Origin of Money, in 1871 and 1892, respectively. Copernicus’s insights predate Menger’s work by roughly 350 years. Even centuries ago, the brightest scientific minds knew of the dangers of debauching a currency. His treatise begins:

Although there are countless maladies that are forever causing the decline of kingdoms, princedoms, and republics, the following four (in my judgment) are the most serious: civil discord, a high death rate, sterility of the soil, and the debasement of coinage. The first three are so obvious that everybody recognizes the damage they cause; but the fourth one, which has to do with money, is noticed by very few thoughtful people, since it does not operate all at once and at a single blow, but gradually overthrows governments, and in a hidden, insidious way.

Writings produced by our Fellows and Copernicus’s monograph are immortalized in our journal. Together, these works examine the historical, social, and legal considerations of gold as money and free-market monetary systems.

The longstanding impact of sound money is captured in the second edition of the Sound Money Review, spanning from Copernicus’s work to present-day scholars continuing to study this crucial topic. As a result of global debt, currency debasement (in Copernicus’s era, often by reducing the precious metals content of coinage), and geopolitical uncertainty, the world is undergoing a global monetary realignment. Countries all over the world, allies and adversaries, have recognized the value of politically neutral, inflation-proof money. Gold and silver have checked these boxes for thousands of years.

Our mission to restore sound money is more urgent than ever. Our robust program includes enacting meaningful policy changes across the nation at the state and federal level, offering paid scholarships and fellowships, and publishing nationwide state scorecards on enacted sound money laws. We are thrilled to offer yet another resource in the form of the second edition of the Sound Money Review. We hope you enjoy.

Jp Cortez
Executive Director, Sound Money Defense League