News & Updates

Friday, December 28, 2007  
Over at The Austrian Economists, Peter Boettke argues that the gold standard was not responsible for the Great Depression:
The Great Depression was a consequence of (a) credit expansion to pay off war debts from WWI during the 1920s, (b) monetary contraction during the 1930s, (c) government microeconomic policies which completely curtailed the ability of market forces to adjust to the changing circumstances, and (d) government policies which eliminated the ability of individuals to realize gains from trade. None of this is about the gold-standard.
Read the rest here.
5:04 PM