The present unstable financial system cannot be fixed by means of a monetary policy that targets the price of gold, argues Frank Shostak. This framework, favored by supply-siders, is likely to further destabilize the economy. What is needed is not a reversion to the bankrupt Bretton Woods system, but a genuine gold standard, where gold is money.
What set in motion the explosive technological advance of the last 250 years was the world of ideas. Great thinkers began to understand the internal logic of the market economy and its potential for liberating mankind from poverty, dependency, and despotic rule.
Gold is the antidote to inflationary money. Gold, its advocates have said through the centuries, protects an individual against the damage caused by the disease called inflation that is created by central banks. Gregory Bresiger reviews Peter Bernstein's attempt to debunk: The Power of Gold: History of an Obsession.
Jack Kemp writes in favor of the gold standard. But will his plan bring sound money? Steve Piraino says no.
Greenspan has lowered rates again, but he can't know if he has done the right thing. Under the far-superior gold standard, such questions never came up. Lawrence Reed explains.
30 years after Nixon closed the gold window, it's time to make the dollar convertible again, argues Greg Kaza.
The new Sacagawea "golden dollar" is an afront to the memory of the real gold standard.
Robert Mundell's economics, both praised and criticized from an Austrian perspective. (Comments from scholars)
The 1999 Nobel Laureate in economics on the origins of gold as a monetary instrument, and why it is so reviled by backers of political intervention.
What happened to the gold standard? As Greenspan put it, "following World War I such tight restraints on economies were seen as too inflexible to meet the economic policy goals of the twentieth century." What those policy goals were, Greenspan did not spell out. Let's fill in the blanks.
