3 ms·
George Gilder Demolishes a Critical Myth About the Gold Standard
- timtas 11y agoThe new work is subtitled "A New Information Theory of Money."[1] But how new is it? I have not read the full work yet, but it seems quite similar to the Austrian school's long held and well developed explanation of prices as information. [2] [1] https://docs.google.com/viewer?url=https%3A%2F%2Famericanprinciplesproject.org%2Fwp-content%2Fuploads%2FGilder.pdf https://docs.google.com/viewer?url=https%3A%2F%2Famericanpri... [2] http://austrianeconomics.wikia.com/wiki/Price http://austrianeconomics.wikia.com/wiki/Price
- nabla9 11y agoYet, it's easier to predict the future value of any contract in fiat currency governed by central bank than it's to predict it's value in gold standard.