Professor Yeager and 100 Percent Gold
An opponent of gold describes the 100 percent standard better than its friends do.
An opponent of gold describes the 100 percent standard better than its friends do.
The supply of money, Rothbard answers, essentially does not matter.
Issuing receipts for gold that does not exist is not banking. It is fraud.
The natural tendency of the state is inflation.
The first intervention was not inflation. It was the seizure of the mint.
If dollars are things in themselves, why may not everyone manufacture them?
To argue for a full gold standard is to risk being classed with the dodo bird.
Bretton Woods was a dollar standard wearing the prestige of gold.
Scotland's celebrated free banks were neither free nor superior.
Bob reviews Murray Rothbard's 1988 essay "The Myth of Free Banking in Scotland," his sharp response to Larry White's influential account of Scottish free banking.