On this week’s episode of the Governance Podcast, our Assistant Director Dr. Bryan Cheang interviews Prof. Daniel Smith from Middle Tennessee State University. This episode features his latest book Money and the Rule of Law, published by Cambridge University Press and co-authored with Alexander Salter and Peter Boettke. Drawing on a wide body of scholarship, this volume presents a novel argument in favor of embedding monetary institutions into a rule of law framework. The authors argue for general, predictable rules to provide a sturdier foundation for economic growth and prosperity. The authors argue that a rule of law approach to monetary policy would remedy the flaws that resulted in misguided monetary responses to the 2007-8 financial crisis and the COVID-19 pandemic.