College of Humanities and Social Sciences

Cameron Harwick

Cameron Harwick

Cameron Harwick

Graduate Lecturer and Graduate Research Assistant

Monetary Economics, Macroeconomics, New Institutional Economics

Cameron Harwick is a PhD candidate at George Mason University with research into the significance of financial intermediation, the origin and function of monetary and financial institutions, and the use of computational simulations to model these.

Current Research

"Helicopters and the Neutrality of Money" – an agent-based model comparing the relative price effects of monetary expansion through credit markets and through "helicopter drops", showing that under reasonable assumptions helicopter drops are more distortive than open market operations.

"Against Savings: A Suggested Exposition of the Markets for Money and Credit" – a simple model of the loanable funds market that does justice to the role of banks as creators, rather than mere intermediaries, of credit.

"Boom, Bust, and Bubbles: A Mengerian Account" – an account of the dynamics of business cycles centering in the liquidity behavior of asset bubbles.

"Giving Credit where Credit is Due: The Benefits of Bank Money" – with Scott Burns – argues that "narrow banking" proposals to curtail bank lending on a fractional reserve basis will not dampen business cycles, but will in fact impede the ability of the broader money stock to adjust to changes in demand.

"The Feudal Origins of Western Liberalism" – with Hilton Root – locates the origin of the ability of developed governments to make credible commitments in the centuries-long fusion of centralized Roman and contractual Germanic legal traditions that occurred during the Middle Ages in Europe.

Selected Publications

 2017. "Money and its Institutional Substitutes: The Role of Exchange Institutions in Human Cooperation." Forthcoming, Journal of Institutional Economics.

2016. "Cryptocurrency and the Problem of Intermediation." Independent Review, 20(4): 569-588.

Courses Taught

ECON 310, Intermediate Macroeconomics
ECON 311, Money and Banking
ECON 420, International Money and Finance


PhD economics, 2018, George Mason University

BA economics and political science, 2010, University of North Carolina at Chapel Hill

In the Media

Coindesk, 2014. "How 'bit-banks' could solve bitcoin's volatility problem"