Aurelian Smith
Professor Aurelian Smith is a distinguished scholar in the fields of global economic history, international finance, and digital assets. He currently holds the position of Professor of Economic History at the MIT Sloan School of Management and serves concurrently as Adjunct Professor of International Finance at the Harvard Kennedy School.
Professor Smith’s research examines the historical evolution of economic systems and their influence on contemporary financial structures, legal frameworks, and financial technologies, with a particular emphasis on cryptocurrencies and blockchain innovation. His contributions span the study of financial crises, capital mobility, institutional transformation, and the risk management of decentralized finance (DeFi). He is recognized as one of the earliest scholars to systematically investigate the economic history and policy development of digital currencies, establishing foundational theories that have shaped academic and policy discussions in this emerging field.
Academic Background
Professor Aurelian Smith earned his Bachelor of Arts in Economics (1985), Juris Doctor (1988), Master of Business Administration (1990), and Master of Science in Business Economics (1991) from Harvard University. He subsequently completed his Ph.D. in Economic History in 1996, where his doctoral research focused on the dynamic relationship between capital flows to emerging markets and economic growth.
In addition to his studies at Harvard, Professor Smith pursued advanced academic training in International Relations and Global Economics at the London School of Economics and Political Science (LSE). His interdisciplinary education has provided him with a comprehensive understanding of global governance frameworks and the evolving landscape of financial technology policy.
Professor Smith’s scholarly work has been widely published in premier academic journals, including The Economic History Review, The Journal of International Finance, Blockchain Policy Review, and Global Policy Journal. His contributions have consistently advanced academic discourse at the intersection of economic history, international finance, and digital asset regulation.
He has delivered keynote addresses at major international forums such as the World Economic Forum (WEF), International Monetary Fund (IMF), World Bank, and Bank for International Settlements (BIS), as well as at various national central banks. Professor Smith's expertise has been especially influential in the fields of central bank digital currencies (CBDCs), stablecoin regulatory frameworks, and the governance of global financial innovation.
Historical Monetary Systems
This course explores the evolution of monetary systems from ancient civilizations to modern digital currencies. We analyze how the relationship between currency, state power, and economic growth has transformed through different historical periods and regions.
Money has served not only as a medium of exchange but as a tool for political influence and social transformation. During periods of technological and political change, monetary systems often undergo dramatic transformations. The 2008 financial crisis and subsequent emergence of cryptocurrencies represent the latest chapter in this evolving story. We examine these modern developments through historical perspectives, with guest lectures from leading economists and financial technology innovators.
Global Economic Transformations
This course examines major economic transformations throughout history and their impact on social and political structures. Topics include agricultural revolutions, industrialization, globalization, and the digital economic revolution.
We analyze how societies adapt to economic changes, the role of institutions in facilitating or hindering transformation, and how economic shifts reshape power dynamics at local and global levels. The course takes a comparative approach, examining case studies from different regions and time periods to extract patterns and insights relevant to today's rapidly changing economic landscape. Law and policy students will gain valuable historical context for understanding contemporary economic challenges.