Climate scientists have determined that we must act now to prevent an irreversible and catastrophic climatic tipping point, beyond which neither our own nor many other species can be assumed likely to survive. On the way to that bleak ending, moreover, extreme socio-economic injustice and...

I argue that coverage caps on Federal Deposit Insurance (FDI), a vestige of the 1933-2005 era when premia were neither risk-priced nor regularly assessed, have become not only anachronistic – a bank law equivalent of the human tailbone – but dangerous. The failure of Silicon Valley Bank in...

Introduction -- Part I: Modern money. What money is based on--viz., "nothing" ; Spending from nothing ; Promising from nothing ; Democracy's dollar -- Part II: The money contract. A very (very) brief history of finance--i.e., civilization ; Why money cannot be printed ; What we owe each other --...

Chapter 1.Introduction: Money, Finance, & Production in Contemporary Commercial Republics -- Chapter 2.Money, Capital, & Investment: Fixing Some Critical Terms & Relations -- Chapter 3.Franchise Finance: A Brief Exposition & Exposé -- Chapter 4.Franchise Finance: Why & How We Got Here --...

Introduction: The once and future distributed fed -- Part I. Loving and hating on collective political agency: Three productive-republican monetary histories -- Chapter 1. Three ages and stages of American money -- Chapter 2. Central banking with ‘federalist’ characteristics: The long...

After twelve years of ‘Debt Ceiling’ nonsense, it is gratifying at last to see many officials and scholars now casting doubt on the Ceiling’s validity. It is somewhat regrettable, however, that attention appears to be focused upon the 14th Amendment alone where these doubts are concerned....

State capacity, stable currencies, and well functioning financial systems seem to be ‘package deals’ – one cannot have one without having all. I show that the intimate functional links among states, monies, and financial systems, ubiquitous across history and geography as they are, are not...

This Article, which brings together two series by the author on financial regulation and the global financial architecture, respectively, retrieves and updates J. M. Keynes’s original International Clearing Union plan for what ultimately became the International Monetary Fund (“IMF,”...

I propose here a critical amendment to Treasury Secretary Paulson's proposed "bailout" plan for troubled financial institutions. If we channel the plan through FHA and its recently re-federalized GSE siblings, I argue, we shall neatly avoid all objections currently raised to the plan - those...

This Article, transcribed from a symposium talk given by the author, examines two critical junctures at which foundational decisions must be made in three areas of theoretical inquiry - mathematics, law, and economics. The first such juncture is that which the Article labels the "arbitrary...