Gold Standard

Friday, August 23rd, 2019

Many economists have strong opinions about the gold standard. Few seem to understand how a gold standard functions.

Wednesday, July 31st, 2019

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.

Monday, July 8th, 2019

Interventionist monetary policies, intending to lower interest rates to boost the economy or increase employment, are circumscribed.

Friday, April 19th, 2019
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.
Wednesday, April 10th, 2019

FDR set the standard for future progressives who wished to exercise broad powers to mold the world as they think best.

Wednesday, October 24th, 2018

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.

Wednesday, October 3rd, 2018

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 state or nation.  

Tuesday, August 7th, 2018

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.

Friday, July 6th, 2018

The classical gold standard has gotten a raw deal in our historical memory. Setting the record straight is a crucial step on the road back to restoring sound.

Wednesday, June 13th, 2018

The era of monetary cosmopolitanism was brief. But its effect on human welfare was enormous.

Friday, March 23rd, 2018

Debasement helps the mint defend against an aggressive counterfeiter.

Wednesday, January 24th, 2018

Government monetary policy was not invented to help the everyday person but instead to benefit the government and its connected interests, “the swindlers.”

Tuesday, January 23rd, 2018

Problems that arose with the gold standard were certainly associated with deflation. That does not mean the gold standard was inherently deflationary.

Wednesday, January 10th, 2018

In many ways, we are better off than we were in the era of the international gold standard. But monetary freedom is not one of them.

Wednesday, December 5th, 2012

In his recent Mises Daily article "Fool's Gold Standards," John P. Cochran warns his readers against accepting any monetary reform less than that of money created by the free market.

Monday, December 3rd, 2012

The only plank remaining under notable discussion from either national convention platform of 2012 is the GOP platform’s call for a national monetary commission.

Monday, November 26th, 2012

Loophole in Western Sanctions Allows Iran to Buy Gold in Turkey With Turkish Payments for Gas Imported From Iran