Thursday, 19 October 2017

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“The ‘Costs’ of a Gold Standard”

Posted by
March 4, 2010
in Blog

“Any discussion of the costs of a gold standard and of the controversy that surrounds this issue is, by its very nature, a one-sided discussion. The comparison of alternative standards on the basis of costs will not be meaningful unless the corresponding benefits are brought into view. Spelling out the particular type of gold standard being discussed and identifying its benefits—in comparison to a paper standard—puts the cost comparisons into proper perspective and goes a long way toward justifying the costs.” Read more

Llewellyn H. Rockwell, Jr. ed The Gold Standard: An Austrian Perspective Lexington, MA:D.C. Heath and Co., 1985, pp 61-79.