Monday, 8 November 2010

Solid Gold?

What do we think of returning to the Gold Standard?
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2 comments:

  1. Chris Hall8 November 2010 at 20:49

    Is there a pre-requisite to actually have some gold?

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  2. Mr. Piccolo9 November 2010 at 00:42

    I am against the gold standard. The gold standard economies during the 19th and early 20th centuries were highly unstable.

    In any event, as a nation's productive capacity overtakes its supply of gold, the gold standard actually acts as a break on economic expansion. This is why eventually even most capitalists favored getting rid of the gold standard, a position that used to be confined to "crazy" populists.

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