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+# Austrian Economics
+
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+# 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]
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