Gold Standard

United States
April 24, 2008 12:12am CST
I have recently come under the impression that the gold standard is a desirable monetary system. It will stabilize the currency and kill the fed's ability to inflate our money on it's whims. I have read sources from Ron Paul, Ludwig von Mises, Lew Rockwell, etc... The only objection I have found on the net are people sighting the recent failure of the Thai baht. Does anyone have a source which disputes this is a failure of the gold standard and shows it as something else?
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1 response
harshadod
@harshadod (858)
• India
30 Sep 09
The gold standard is a decent concept, but money is a result of productivity while as gold is a natural resource with limited production. Since human productivity is increasing , linking it to gold standard has its limitations. Monetary policy if left to market forces will find equilibrium, but governments will not allow it.