Renewing the Search for a Monetary Constitution : Reforming Government's Role in the Monetary System

50 years ago, an important volume, In Search of a Monetary Constitution, was published, focusing on the need for a monetary constitution constraints on the creation of money by the government. Today, the work s analysis, overlooked at the time, has proven to be remarkably prescient. In this new collection, commemorating the volume s 50th anniversary, the subject is fully updated and re-energized. Since its publication, central banks have delivered neither sound money nor real growth; instead, chronic inflation and a series of booms and busts have prevailed. As a result, calls for monetary reform have re-emerged, centered around the debate over creating constitutional provisions that empower government vs. provisions that prohibit the government interference with money. This new volume seeks to spark a new discussion of the vital issue of constitutional monetary reform."