Gold Standard
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That Civilized Relic: A Monetary System as Good as Gold
“The gold standard isn’t perfect. No system is. But it has many virtues. A strong case can be made that it’s the best of all feasible institutional alternatives. As my dissertation adviser, Lawrence White, puts it: The gold standard is still the gold standard among monetary systems.” ~
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Global Money Supply Growth and the Great Inflation Getaway
“Maintenance of the level of employment rather than inflation has become the focus of official policy everywhere. Stimulus will continue until employment is restored to its pre-crisis level and there remains a colossal debt overhang to temper inflationary tendencies, but there is a real and present danger that, in the process of returning the economy…
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Krugman and the Goldbugs
Many economists have strong opinions about the gold standard. Few seem to understand how a gold standard functions.
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Is There Such a Thing as a Free-Market Gold Standard?
Although the multiplication of national gold standards that gave rise to the classical gold standard was partly accidental and partly the outcome of deliberate legislation, market forces also played an important part in it.
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The Workings of the Gold Standard
Interventionist monetary policies, intending to lower interest rates to boost the economy or increase employment, are circumscribed.
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Back the Libra with Gold, Says Steve Forbes
The Libra could be to money and finance what Henry Ford was to automobiles.
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The Gold Standard, FDR, and the Recovery of 1933
In a recent NBER working paper, Margaret M. Jacobson, Eric M. Leeper, and Bruce Preston argue that FDR’s abandonment of the gold standard helped bring an end to the Great Depression.
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FDR’s Legacy of Interventionism
FDR set the standard for future progressives who wished to exercise broad powers to mold the world as they think best.
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Government, Gold, and Separating Money From the State
Money did not originate in the laws or decrees of kings and princes. Money, as the generally accepted medium of exchange, emerged out of the market transactions of a growing number of buyers and sellers in an expanding arena of trade.
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Voting Is Not Self-Expression
Voting may be many things, but the least of them is self-expression. Conceding the sufficiency of multi-billion dollar political contests among highly vetted, meticulously-coached candidates is a guaranteed road to self-negation.
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Economic Nationalism Is a Terrible Response to the Currency War
The way out of the dilemma and to resolve the problem that is posed by the existence of national currencies under state authority, is to use private money at a global scale. Gold once served this purpose and could again. Further, the new electronic monies, like Bitcoin for example, are not bound to a specific…
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Governments and Central Banks Should Look to Gold Not Crypto
The Fed should focus entirely on the soundness of the dollar and the banking system. Innovations like cryptocurrency and the growing infrastructure associated with it are the business of private enterprise, not government and official institutions.
