Gold Dollar By Rothbard.pdf

Gold-Dollar-by-Rothbard.pdf
Preview of Gold Dollar by Rothbard
🔗 Source: csinvesting.org
📊 Size: 184 KB
👤 Author: Murray N. Rothbard
⬇️ Downloads: 114

Summary

Murray N. Rothbard's essay, "The Case for a 100 Percent Gold Dollar," discusses the history of the gold standard and its decline. The classical gold standard, in place before World War I, defined currency units as weights of gold, allowing for redeemability in gold coin and limiting inflation. In contrast, the Bretton Woods system, established in 1945, defined the dollar as 1/35 of a gold ounce but only allowed foreign governments and central banks to redeem dollars for gold bullion, not coin. This system enabled the US to "export inflation" to other countries, which accumulated dollar balances and pyramided their own currencies on top of them. Rothbard argues that the Bretton Woods system was flawed and destined to collapse, as predicted by Austrian economists like Ludwig von Mises, who advocated for a return to a genuine gold standard at a realistic rate.

Description

Murray N. Rothbard's essay, "The Case for a 100 Percent Gold Dollar," discusses the history of the gold standard and its decline.

Technical Information

  • File Format: PDF
  • File Size: 184 KB
  • Pages: 32
  • Language: EN
  • Author: Murray N. Rothbard
  • Total Downloads: 114
  • Last Updated: 3 weeks ago

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