Gold and 100-Percent Reserves

Brian P. Simpson

Chapter 7 in Money, Banking, and the Business Cycle, 2014, pp 219-242 from Palgrave Macmillan

Abstract: Abstract By getting rid of fiat money and fractional-reserve banking and establishing a completely free market in money and banking, one can vastly improve an economic system. One can essentially eliminate the business cycle. I will discuss the few, minor exceptions below. One can virtually eliminate both inflation and deflation. One can make it harder for the government to interfere in the economy. One can also increase the ability of individuals in the economy to save, accumulate capital, and raise the productivity of labor and standard of living. In this chapter, I focus on these benefits of gold and 100-percent reserves, as well as many others.

Keywords: Interest Rate; Business Cycle; Money Supply; Real Interest Rate; Economic Progress (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-33656-9_8

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DOI: 10.1057/9781137336569_8

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