| Would miners pull gold out of the ground more quickly (and start more projects) if the price of gold increased? Would new entrants in the market attempt to find more efficient ways to extract gold? Would alternatives to gold as a currency arise? I'm not convinced that a gold standard would be perfect. I am quite convinced that the current private exponential issuance of debt-based fiat currency by a money printing madman is insane. I really don't know. I just don't think that our academic betters know either, despite their pretenses. I tend to think that any idea that our friends in economics dismiss is worth considering carefully, given how wrong they've been in the last decade plus. The U.S. grew at its fastest rate under a hard money gold standard, with heavily restricted immigration and almost no government, financed with tariffs, of all things. Does that mean we should adopt those policies? I dunno man. I do know we were industrializing at the time and, hey, look at that, there was a literally unbelievable explosion of goods, services and promises thereof. So I try to keep an open mind on this stuff. |