The Populist Case for the Gold Standard

Kristoffer Mousten Hansen ()
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Kristoffer Mousten Hansen: GRANEM - Groupe de Recherche Angevin en Economie et Management - UA - Université d'Angers - AGROCAMPUS OUEST - Institut National de l'Horticulture et du Paysage

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Abstract: There have been many calls for reforming the gold standard since the end of the classical gold standard and especially since the end of Bretton Woods. While these calls have somewhat abated in recent years, this article will attempt to show that the gold standard is still a superior monetary system, and that the reform of the monetary system is still a desirable policy. We will proceed by first analyzing the shortcomings of the present fiatmoney order, indicating how it distorts the market and society through inflation, redistribution, by artificially increasing the importance of financial markets, and by hampering US industrial production in international trade. Then we will show that these problems would cease to exist under the gold standard, and we will indicate a possible reform for returning to gold in the US. Finally, we will argue that such a reform in order to be successful must become a popular crusade-i.e., it must become a populist issue.

Keywords: gold standard; monetary policy; austrian economics; populism (search for similar items in EconPapers)
Date: 2020
New Economics Papers: this item is included in nep-his and nep-mon
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Published in Journal of Libertarian Studies, 2020, 24 (2), pp.323-361

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03480314

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