Professor Hanke's work in political economy spans five decades and four continents. From advising President Reagan on privatization to measuring and stopping hyperinflations in Bulgaria, Estonia, Argentina, Montenegro, and Bosnia Herzegovina, his career has been defined by the application of economic principles to real-world political challenges.
Exchange Rate Regimes & Currency Reform
Currency Boards
The rules-based monetary system Hanke has implemented in 4 countries. Low inflation, sustained economic growth, fiscal discipline. Bottom line: the establishment of economic stability and no failures
Dollarization
How countries eliminate monetary risk entirely by adopting the U.S. dollar or euro. Hanke's work in Montenegro, Ecuador, and Argentina
Inflation & Monetary Policy
Hyperinflation
71 documented episodes. The Hanke-Krus World Hyperinflation Table. Real-time inflation measurement using PPP methodology
Monetarism
The Quantity Theory of Money. Hanke's Golden Growth Rate. Why the Fed is flying blind. State-money/bank-money analysis
Free Market Economics & Privatization
Free Market Economics
Classical liberalism and Austrian economics as the intellectual foundation for Hanke's policy prescriptions
Privatization and Property Rights
Hanke argues that private ownership and clear property rights produce stronger incentives, better capital allocation, and more reliable service provision than state-run systems.
Policy & Advisory Work
Reagan's Council of Economic Advisers. 15+ countries advised. The Troubled Currencies Project. 50+ years of public service — always pro bono