What the Gold Standard Would Produce

An honest libertarian analysis of what returning to the gold standard would produce

The Argument

The libertarian gold standard argument -- the case for constraining monetary policy through the specific commodity anchor that the gold standard provides, preventing the specific monetary inflation that the discretionary central bank policy produces when the specific political incentives to inflate are not constrained by the gold anchor -- is the libertarian monetary policy position that has been the most consistently argued and the most consistently rejected by the mainstream economics community.

The Honest Assessment

The honest assessment: the gold standard constrains monetary policy in ways that the Great Depression documented as specifically harmful when the specific economic conditions required the specific monetary expansion that the gold standard prevented. The accountability journalism of the libertarian monetary policy tradition requires examining the specific historical evidence honestly alongside the specific theoretical argument.

Surf Revolt Coverage

Surf Revolt covers the gold standard question because the accountability journalism of the libertarian policy tradition requires the honest engagement with the evidence on the specific policies the tradition advocates, and because the gold standard is the specific monetary policy position where the honest evidence engagement is most challenging.

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