Kevin Dowd


Kevin Dowd is an emeritus professor at the Nottingham University Business School and a visiting professor at the Pensions Institute. He also taught at the University of Sheffield (as department chair 1997-1999), Sheffield Hallam University, and the University of Nottingham. Dowd holds a B.A. (first class honours) from the University of Sheffield, a M.A. in economics from the University of Western Ontario, and a Ph.D. in economics from the University of Sheffield.

As well as free banking, monetary economics and the current financial crisis, Dowd's interests include financial economics, risk management, pensions and longevity. In addition to his many publications in scholarly journals, he is the co-author (with Martin Hutchinson) of Alchemists of Loss: How Modern Finance and Government Intervention Crashed the Financial System (Wiley, 2010), Measuring Market Risk (Wiley, 2002, second edition 2005), An Introduction to Market Risk Measurement (Wiley, 2002), Money and the Market: Essays on Free Banking (Routledge, 2000), Beyond Value at Risk: The New Science of Risk Management (Wiley, 1998), Competition and Finance: A New Interpretation of Financial and Monetary Economics (Macmillan Press, 1996), Laissez-Faire Banking (Routledge, 1993), and The State and the Monetary System (Philip Allan Publishers, 1989), and Private Money: The Path to Monetary Stability (Institute of Economic Affairs, Hobart Paper No. 112, 1988). He is the editor (with Richard H. Timberlake, Jr) of Money and the Nation State: The Financial Revolution, Government and the World Monetary System (Independent Institute, 1998), The Experience of Free Banking (Routledge, 1992), and (with Mervyn K. Lewis) Current Issues in Monetary Theory and Policy (Macmillan Publishers, 1992).

Professor Dowd is an andjunct Scholar at the Cato Institute, a research fellow at the Independent Institute, a senior fellow at the Cobden Centre, and a member of the academic advisory council at the Institute of Economic Affairs. He serves as associate editor of The Journal of Risk and The Journal of Risk Model Validation and serves on the editorical board of the Cato Journal, the Journal of Accounting and Finance, the International Journal of Intelligent Systems in Accounting, Finance, and Management, The Journal of Portfolio Management, the Journal of International and Global Economic Studies, and Qualitative Research in Financial Markets.

He lives in Sheffield, England, with his wife and two daughters.

Steve Horwitz


Steve Horwitz is the Charles A. Dana Professor of Economics at St. Lawrence University in Canton, NY. He is the author of two books, Microfoundations and Macroeconomics: An Austrian Perspective (Routledge, 2000) and Monetary Evolution, Free Banking, and Economic Order (Westview, 1992), and he has written extensively on Austrian economics, Hayekian political economy, monetary theory and history, and the economics and social theory of gender and the family. His work has been published in professional journals such as History of Political Economy, Southern Economic Journal, and The Cambridge Journal of Economics. He is also an Affiliated Senior Scholar at the Mercatus Center in Arlington, Virginia where he has published public policy research on Walmart's role in Hurricane Katrina recovery as well as on the ongoing recession. His current project is a book tentatively titled Classical Liberalism and the Evolution of the Modern Family. Horwitz is the book review editor of the Review of Austrian Economics, an associate editor of the Journal of Economic Behavior and Organization, and a co-editor of the book series Advances in Austrian Economics. He is also a contributing editor and weekly online columnist for The Freeman.

He has been a visiting scholar at the Social Philosophy and Policy Center at Bowling Green State University and a past recipient of three fellowship research grants from the Earhart Foundation and an F. Leroy Hill summer fellowship from the Institute for Humane Studies. From 1993 to 1998, he held the Flora Irene Eggleston Faculty Chair at St. Lawrence University, where he also was awarded the Frank P. Piskor Lectureship for 1998-99 and the J. Calvin Keene Award in 2003. From 2001 to 2007, he served as the Associate Dean of the First Year. Horwitz has spoken to professional, student, policymaker, and general audiences throughout the US and Canada, and is also a recurring guest on Fox Business Channel's Freedom Watch program and an occasional contributor to PBS's Nightly Business Report blog. A member of the Mont Pelerin Society, he completed his M.A. and Ph.D. in economics at George Mason University and received his A.B. in economics and philosophy from the University of Michigan.

Vern McKinley


Vern McKinley is an attorney, financial analyst, policy analyst and author specializing in central bank and deposit insurance operations and policy. He has worked the past twelve years in advising a variety of government clients, principally applying his expertise to improving central bank and deposit insurance operations, and banking supervision and regulatory systems for central banks and financial agencies. McKinley has worked on a full range of financial stability issues, including management of central banks; stress testing and failure prediction models; strategies for addressing banking crises, including resolution of problem financial institutions; deposit insurance and bank supervision design; and coordination of interagency actions among multiple financial sector agencies. Prior to his time as an advisor, McKinley worked for 15 years at a number of the US financial agencies, including the Federal Deposit Insurance Corporation (FDIC), Board of Governors of the Federal Reserve, Resolution Trust Corporation and Treasury's Office of Thrift Supervision.

Currently McKinley is finalizing the editing of a book to be published by the Independent Institute that traces the past century of financial institution bailouts in the US, focusing in particular on the most recent financial crisis. In researching the book, he has brought four lawsuits under the Freedom of Information Act against the Board of Governors of the Federal Reserve, FDIC and Federal Housing Finance Agency to secure details on the bailouts. He has also completed work on Central Bank Modernisation, a book on change management in central banks. McKinley co-authored one of the book’s lead chapters and has applied the methodology from the chapter to a number of operations assessments of central banks. In an earlier policy analysis for Cato Institute over a decade before their demise ("The Mounting Case for Privatizing Fannie Mae andFreddie Mac"), McKinley labeled Fannie Mae and Freddie Mac "financial time bombs" and warned that they "expose the federal taxpayer to an ever-increasing potential contingent liability that could ultimately cost tens of billions of dollars to rectify."

Mr. McKinley holds dual bachelors degrees (with honors) in finance and economics from the University of Illinois at Champaign-Urbana and a J.D. (with honors) from George Washington University.

Kurt Schuler


Kurt Schuler is an economist in the Office of International Affairs at the U.S. Treasury Department. In his spare time he edits Historical Financial Statistics (a free, noncommercial online data set) for the Center for Financial Stability. He has written a number of publications about the history of free banking and about other monetary systems. Because the Treasury Department discourages employees from commenting publicly on current policy issues within its purview, he refrains from discussing such issues here. His views represent no official Treasury Department position. As befits a bureaucrat, he has chosen to remain faceless, hence we have posted no photo of him.

George Selgin


George Selgin is a Professor of Economics at the University of Georgia's Terry College of Business. He is a senior fellow at the Cato Institute. His research covers a broad range of topics within the field of monetary economics, including monetary history, macroeconomic theory, and the history of monetary thought. He is the author of The Theory of Free Banking (Rowman & Littlefield, 1988), Bank Deregulation and Monetary Order (Routledge, 1996), Less Than Zero: The Case for a Falling Price Level in a Growing Economy (The Institute of Economic Affairs, 1997), and, most recently, Good Money: Birmingham Button Makers, the Royal Mint, and the Beginnings of Modern Coinage (University of Michigan Press, 2008). He has written as well for numerous scholarly journals, including the British Numismatic Journal, The Economic Journal, the Economic History Review, the Journal of Economic Literature, and the Journal of Money, Credit, and Banking, and for popular outlets such as The Christian Science Monitor, The Financial Times, The Wall Street Journal, and other popular outlets. Professor Selgin is also, a co-editor of Econ Journal Watch, an electronic journal devoted to exposing “inappropriate assumptions, weak chains of argument, phony claims of relevance, and omissions of pertinent truths” in the writings of professional economists. He holds a B.A. in economics and zoology from Drew University, and a Ph.D. in economics from New York University.

Walker Todd


Walker Todd is a 2014 grantee of The Institute for New Economic Thinking. He will soon be joining the Cato Institute's new Center for Monetary Financial Alternatives as one of its Adjunct Scholars. Todd lives in Chagrin Falls, Ohio, near Cleveland, and has been affiliated with AIER in one capacity or another since 1995, where he now serves as a trustee. He is an attorney admitted to practice in Ohio and New York and is an economic consultant with 20 years’ experience at the Federal Reserve Bank of New York and the Federal Reseve Bank of Cleveland. He has been an instructor in the Special Studies program at Chautauqua Institution, Chautauqua, NY, since 1997. He holds a Ph.D. in French from Columbia University and a J.D. from Boston University School of Law. A director and program organizer for the Committee for Monetary Research and Education, he was an adjunct faculty member of the Cleveland-Marshall College of Law, Cleveland State University, for 13 years. He has numerous publications, both for AIER and for others, on banking, central banking, monetary and property rights topics, including those related to international debt, the International Monetary Fund, and the regulation of the banking system and financial markets.

Larry White


Larry White is Professor of Economics at George Mason University. He specializes in the theory and history of banking and money, and is best known for his work on free banking. He received his A.B. from Harvard University and his M. A. and Ph.D. from the University of California, Los Angeles. He previously taught at New York University, the University of Georgia, and the University of Missouri - St. Louis.

Professor White is the author of The Clash of Economic Ideas (Cambridge, forthcoming); The Theory of Monetary Institutions (Basil Blackwell, 1999); Free Banking in Britain (2nd ed., Institute of Economic Affairs, 1995; 1st ed. Cambridge, 1984), and Competition and Currency (NYU, 1989). He is the editor of F. A. Hayek, The Pure Theory of Capital (Chicago, 2007); The History of Gold and Silver (3 vols., Pickering and Chatto, 2000); Free Banking (3 vols., Edward Elgar, 1993); The Crisis in American Banking (NYU, 1993); William Leggett, Democratick Editorials (Liberty Press, 1984); and other volumes. His articles on monetary theory and banking history have appeared in the American Economic Review, the Journal of Economic Literature, the Journal of Money, Credit, and Banking, and other leading professional journals.

In 2008 White received the Distinguished Scholar Award of the Association for Private Enterprise Education. He has been Visiting Professor at Queen's University of Belfast, Visiting Fellow at the Australian National University, Visiting Research Fellow and lecturer at the American Institute for Economic Research, visiting lecturer at the Swiss National Bank, and a visiting scholar at the Federal Reserve Bank of Atlanta. He co-edits a book series for Routledge, Foundations of the Market Economy. He is a co-editor of Econ Journal Watch, and hosts bi-monthly podcasts for EJW Audio. He is a member of the board of associate editors of the Review of Austrian Economics and a member of the editorial board of the Cato Journal. He is a contributing editor to the Foundation for Economic Education's magazine The Freeman and lectures at the Foundation's annual seminar in Advanced Austrian Economics. He is an adjunct scholar of the Cato Institute and a member of the Academic Advisory Council of the Institute of Economic Affairs.

Bradley Jansen (editor)


Bradley Jansen is the director of the Center for Financial Privacy and Human Rights, part of the Liberty and Privacy Network, a Washington DC-based non-profit founded in 2005 to defend privacy, civil liberties and market economics. He is an adjunct scholar at the Competitive Enterprise Institute. Previously at the Free Congress Foundation, Jansen safeguarded privacy and other Constitutional liberties including testifying before Congress on the USA PATRIOT Act proposal, National ID, and other issues. While working for U.S. Rep. Ron Paul, he initiated and lead opposition to the "Know Your Customer" proposal. Jansen holds a B.A. in International Studies from Miami University (Ohio), learned Spanish at the Pontificia Universidad Javeriana (Colombia), and with advanced studies in economic history at Universidad Católica de Valparaíso (Chile) and law and economics at George Mason University School of Law.

He is a columnist with The Daily Caller, The Huffington Post and Nolan Chart.

Chuck Moulton (editor)


Chuck Moulton is associate director of the Center for Financial Privacy and Human Rights and coordinator of its Free Banking Project. He is a graduate lecturer at George Mason University currently teaching classes on Money & Banking. Previously a law clerk at the Cato Institute, he researched issues for scholars affiliated with the Center for Constitutional Studies. Moulton holds a M.A. in economics from San Jose State University, a J.D. from Villanova University School of Law, and a B.S. in mathematics from Rochester Institute of Technology. He is an ABD Ph.D. student in economics at George Mason University, writing a dissertation on the transition to free banking under the direction of Professor Larry White. Mr. Moulton is licensed to practice law in Pennsylvania, New Jersey, and California and is a Professional Registered Parliamentarian.