3 ms·
That's a creative interpretation of history. Keynes was one of the great advocates for dropping the gold standard, calling it a barbarous relic - as his biogra
by parasubvert 12y ago
That's a creative interpretation of history.
Keynes was one of the great advocates for dropping the gold standard, calling it a barbarous relic - as his biographer Skidelsky says, "useful as a constitutional monarch but disastrous as a despot".
The various central bankers clinging to gold - against all evidence - caused the great depression's deflationary spiral.