A few years ago I wrote a piece, for Public Discourse, called “Montesquieu and the Monetary System.” It discussed our having fiat money, non-gold-standard money, today, from the perspective of the ...

Forbes contributors publish independent expert analyses and insights. I write about economic policy for the 21st century. This voice experience is generated by AI. Learn more. This voice experience is ...

THE European money crisis only dramatized what many experts have long regarded as an unassailable dictum: the free world’s monetary system is overdue for an overhaul. That system—the internationally ...

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 ...

For more than 80 years, the U.S. dollar has been central to the international financial system, in no small part because it is the primary global reserve currency. But as in politics, narratives are ...

Definition: Fiat currency is a form of money or tender not backed by a tangible asset or commodity like gold or silver. It’s usually mandated by governments, but this isn’t always the case. The ...

The Basel-based institution said that private digital tokens fall short of the requirements for sound money and urged policymakers to accelerate work on tokenized forms of central bank and commercial ...

This article is part one of The Conversation’s “Business Basics” series where we ask leading experts to discuss key concepts in business, economics and finance. For the most part, economists continue ...