Objections to 100 Percent Gold
The supply of money, Rothbard answers, essentially does not matter.
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.
The Singer Building and the panic of 1907. The Empire State and the Depression. The Burj Khalifa and 2008. Lucas Engelhardt on why the world's tallest buildings keep opening at exactly the wrong moment.