jeffemmett
/
web3
1
0
Fork 0
Code Issues Pull Requests Packages Projects Releases Wiki Activity

Summary of gold standard

This commit is contained in:
sdiehl 2022-02-24 11:54:31 +00:00
parent 9c9ee1bab1
commit 0e7f657595
2 changed files with 18 additions and 0 deletions
Show Stats Download Patch File Download Diff File Expand all files Collapse all files

2
concepts/austrian-economics.md Normal file
View File

@ -0,0 +1,2 @@
# Austrian Economics

16
concepts/gold-standard.md Normal file
View File

@ -0,0 +1,16 @@
# Gold Standard
A monetary standard based on precious metals, espoused as [[sound-money]] in [[austrian-economics]].
## Criticisms
* Unequal distribution of gold across Earth gives certain countries and groups unequal access to value detached from economic activity and based purely on geography.
* Limits the amount of economic growth because supply is limited.
* Does not allow market intervention during recessions.
* Short-term price volatility
* Deflationary currencies encourage hording and punish debtors.
* Gold mining and production is not predictable on long time scales.
## Essays
1. [Ben Bernanke|@bernanke_essays_2004]