Professor Hanke has served as economic adviser to governments and heads of state across four continents over five decades. He has advised U.S. presidents and Congress, foreign heads of state, and international institutions — always on a pro-bono basis for foreign governments.
At a Glance
15+ countries advised across Africa, Asia, Europe, and the Americas — more than virtually any living economist.
10+ hyperinflations solved — more than any living economist, through currency boards and dollarization.
Pro-bono service to all foreign governments — public service as a calling, not a profession.
50+ years of public service — from Maryland's Governor's Council in 1976 to active advisory roles today.
Navigate This Section
- U.S. Government Service — Reagan Council of Economic Advisers, Maryland Governor's Council, Joint Economic Committee
- Countries Advised — Full table of 15+ nations across four continents
- Troubled Currencies Project — Real-time inflation tracking for 44 countries
- International Advisory Impact — The human cost of hyperinflation and how currency reform saves lives
The Money Doctor
Professor Hanke earned the nickname "the Money Doctor" through decades of urgent, real-world advisory work in crisis-hit economies. Unlike most academic economists who advise from a distance, Hanke would fly to the country, meet directly with presidents and finance ministers, and design detailed monetary reform packages within days. His currency boards were operational within weeks of his arrival — stopping hyperinflations that had seemed intractable.
The term reflects a diagnostic approach: Hanke's first task in any advisory engagement is to measure the true inflation rate (often wildly understated by official statistics), identify the root cause (invariably excessive money creation), and prescribe the cure (a currency board or dollarization that takes the printing press away from the government). The cure is often fast and dramatic — as in Bulgaria, where a 242%-per-month hyperinflation was stopped within one month of the currency board's July 1997 installation.
Fortune — "The Money Doctor": Hanke on Pakistan, inflation, and the doom loop (2025)
Cross-References
- Currency Boards — The technical instrument behind most of Hanke's advisory solutions
- Hyperinflation — The economic catastrophe Hanke has spent his career preventing
- Dollarization — An alternative monetary anchor used in Montenegro, Ecuador, and beyond
- Free Market Economics — The intellectual framework underlying all of Hanke's policy prescriptions
All advisory work for foreign governments has been performed on a pro-bono basis.
Recent Publications (2025–2026)
- Money Doctor & Captain Pakistan — Op-ed, Fortune Magazine
- Milei Isn't Out of the Woods Yet — Op-ed, National Review
- Argentina Passes the Begging Bowl — Op-ed, Fortune Magazine
- Ecuador's Dollarization: Template for Argentina — Working Paper, Johns Hopkins IAE