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The Gold Standard: Retrospect and Prospect Kindle Edition
“In general, the gold standard effectively managed the money supply to stabilize the purchasing power of money over time. This was no accident.” ~Peter C. Earle and William J. Luther
On August 15, 1971, President Richard Nixon closed the gold window, thereby preventing foreign governments from converting United States (U.S.) dollars into gold.
The Nixon shock created a clear dividing line in American monetary history. Prior to August 15, 1971, the U.S. dollar had been tied to gold in one way or another since the nation’s founding.
Fifty years after the Nixon shock, it is difficult for many to imagine a dollar connected to gold. Most Americans have never used a gold-backed dollar. They do not understand how the gold standard worked. They have not considered the merits of returning to the gold standard. The gold standard, in their minds, is a relic of a bygone era.
The contributions in this volume help to bridge the knowledge gap created by fifty years of fiat money.
The American Institute for Economic Research in Great Barrington, Massachusetts, was founded in 1933 as the first independent voice for sound economics in the United States. Today it publishes ongoing research, hosts educational programs, publishes books, sponsors interns and scholars, and is home to the world-renowned Bastiat Society and the highly respected Sound Money Project. The American Institute for Economic Research is a 501c3 public charity.
- ASIN : B09FY96YD7
- Publisher : American Institute for Economic Research (September 9, 2021)
- Publication date : September 9, 2021
- Language : English
- File size : 6665 KB
- Simultaneous device usage : Unlimited
- Text-to-Speech : Enabled
- Screen Reader : Supported
- Enhanced typesetting : Enabled
- X-Ray : Not Enabled
- Word Wise : Enabled
- Sticky notes : On Kindle Scribe
- Print length : 341 pages
- Page numbers source ISBN : 1630692190
- Best Sellers Rank: #1,127,519 in Kindle Store (See Top 100 in Kindle Store)
- #591 in Economic Theory (Kindle Store)
- #909 in Economic History (Kindle Store)
- #1,684 in Theory of Economics
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Apart from the complete lack of discussion about what the politicians part have been, it spent the whole book discussing the merits of a gold standard. Even the section that was supposed to present the case against was a hatchet job. Surely they should have allowed the opponents to present their case themselves.
Either way, all of it was almost completely unconvincing not least because of the flaws in classic economic theory that is often used to justify decisions.one of the worst being self correcting markets.
Avoid this book