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The Gold Standard: Retrospect and Prospect Paperback – August 10, 2021
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“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.
- Print length342 pages
- LanguageEnglish
- Publication dateAugust 10, 2021
- Dimensions6 x 0.86 x 9 inches
- ISBN-101630692190
- ISBN-13978-1630692193
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Product details
- Publisher : American Institute for Economic Research (August 10, 2021)
- Language : English
- Paperback : 342 pages
- ISBN-10 : 1630692190
- ISBN-13 : 978-1630692193
- Item Weight : 1.15 pounds
- Dimensions : 6 x 0.86 x 9 inches
- Best Sellers Rank: #1,684,706 in Books (See Top 100 in Books)
- #1,744 in Theory of Economics
- #3,551 in Economic History (Books)
- Customer Reviews:
About the authors

Peter C. Earle is an economist and writer who joined the American Institute for Economic Research in 2018. Prior to that, he spent over 20 years as a trader of equities, options, futures, and other securities and derivatives in global financial markets for a number of firms and funds. His research focuses on financial markets, monetary policy, economic history, game economics, cryptocurrencies, and issues in economic measurement. He has been quoted in the Wall Street Journal, Bloomberg, Reuters, Grant's Interest Rate Observer, Fortune Magazine, NPR, and in numerous other publications.
Pete is also the founder of Intangible Economics, LLC, a digital/virtual/cryptocurrency consultancy. He holds an MA in Applied Economics from American University, an MBA (Finance), and a BS in Engineering from the United States Military Academy at West Point.

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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



