tag:blogger.com,1999:blog-2761684730989137546.post629987109321018456..comments2024-03-29T07:30:30.121-04:00Comments on Mike Norman Economics: Stephen G. Cecchetti and Kermit L. Schoenholtz - Why a gold standard is a very bad ideamike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-2761684730989137546.post-86265487416844596472019-04-10T15:19:39.625-04:002019-04-10T15:19:39.625-04:00“Anywhere you look, the problems of using the gold...<i> “Anywhere you look, the problems of using the gold standard are described the same. One thing, the money is limited to the amount of gold a country has, not the resources or the know-how of the people. That would be a waste.”</i><br /><br />Fortunately no nation has ever really had a “gold standard.” There was only a pretense, a gimmick used by politicians when they wanted to claim that there was “no money” for something the public wanted. Meanwhile there was (and is) infinite money for things like World War. <br /><br />Debating the “gold standard” is as silly as arguing about how many unicorns exist in the world. The "gold standard" has never existed, and if it were ever enacted, it would be economically disastrous.Konradhttps://www.blogger.com/profile/01739209449391854796noreply@blogger.com