Panacea, Mr. Krugman?

Paul Krugman's recent New York Times blog, "Recessions Under the Gold Standard," employed a cheap closing shot: "Gold is no panacea."

TheGoldStandardNow.org takes the position that the gold standard is the least imperfect of monetary systems. 

 

This writer never has seen, in extensive study of the literature, the gold standard referred to by any serious proponent as a "panacea." 

Before Mr. Krugman, indicted by some as a cheerleader for the housing bubble, again resorts to distortion...

he might wish first to ponder these words of Ernest Hemingway:

The first panacea for a mismanaged nation is inflation of the currency; the second is war.

Both bring a temporary prosperity; both bring a permanent ruin.

But both are the refuge of political and economic opportunists.

(From Notes on the Next War:  A Serious Topical Letter, Esquire, September 1935)

Vinaora Nivo SliderVinaora Nivo SliderVinaora Nivo SliderVinaora Nivo Slider

Exclusive Interview With Prof. Lawrence White, Part 3

October 20, 2014

An extended interview with Professor Lawrence White,economics professor at George Mason University who teaches graduate level monetary theory and policy, Part 3

BOOK REVIEWS

Signs Of The Gold Standard Emerging From Great Britain?

by Ralph Benko

... Given Kwarteng’s current and, likely, future importance to the world monetary discourse it really would be invaluable were he to master the arguments of Jacques Rueff, and of Lewis Lehrman, as well as those of Triffin (who shared the same diagnosis while offering a different prescription).

Read More

 

BLOGS


Exclusive interview with Prof. Lawrence White, Part 3

Ralph J. Benko  |  Oct 20, 2014
Lawrence H. White is an  economics professor at George Mason University who teaches graduate level monetary theory and policy. Lawrence White As described by the Wikipedia, "White earned his BA at Harvard University (1977) and PhD at the University of California at Los Angeles (1982). Before his current role at George Mason...
The Federal Reserve System's James Narron and David Skeie, career officials with the Federal Reserve System, are two eminent historically erudite figures.  Writing in the New York Federal Reserve Bank's online publication, Liberty Street Economics, they recently provided a continuation of their valuable historical "revue," Crisis Chronicles: The Collapse of the...
VIEW BLOGS
An article headline in Saturday’s Wall Street Journalread “Rate Talk Heats Up Within The Fed.” As Journalreporters Jon Hilsenrath and Michael Derby...
VIEW WORLD NEWS
Question # 1 of 2: Part of the purpose in discussing H.R.1098 and holding this hearing was to initiate a...
VIEW KEY MONETARY WRITINGS
 

Kathleen M. Packard, Publisher
Ralph J. Benko, Editor

In Memoriam
Professor Jacques Rueff
(1896-1978)

Now Available on Amazon and from The Lehrman Institute

Gold Standard 3-Pack

Three Gold Standard Titles for One Low Price. Only from The Lehrman Institute Store.

Buy from
The Lehrman Institute