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I think many here would benefit from reading the introduction of...

  1. Grovulent
    551 Posts.
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    18/06/09
    21:11
    Post #: 5298145
    I think many here would benefit from reading the introduction of this book :

    http://books.google.com.au/books?hl=en&lr=&id=Qk1flhynCD8C&oi=fnd&pg=PP18&dq=depression+gold+stand+usa&ots=ONYWYakkZM&sig=qGrNJREpkbmpwf3bmntdjy7hgtw#PPA11,M1

    It provides an explanation of why the gold standard worked before the first world war - and why it failed afterward.

    The moral being that the success of any standard is dependent on the confidence people have in that system. Gold certainly isn't a cure all.
    Value at posting: $0.00
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    lightbulb Created with Sketch.  Great analysis
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