Putting the country back on gold

posted by
July 28, 2011
Ludwig von Mises Institute
by Robert P. Murphy  
Posted in Commentary

"Before quoting Mises's proposal, let me set up the problem. The classical-liberal goal of 'sound money' tied currencies to the precious metals. Just as a constitution was intended to restrain the arbitrary exercise of government power, the gold standard (or some other commodity standard) strictly limited the ability of a government to engage in inflation. The advocates of sound money had seen all too well the destructive consequences of the runaway printing press." (07/28/11)


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