Another flavor of voodoo economics

“A gold standard regime would be a disaster for any large advanced economy,” said University of Chicago economist Anil Kashyap. Supporting the gold standard “implies macroeconomic illiteracy.”

Macroeconomic literacy? We don’t need no stinking macroeconomic literacy!

Judy Shelton is a fan of a policy abandoned in 1971 and considered a fringe view by mainstream economists

One thought on “Another flavor of voodoo economics

  1. The gold standard is such a hoary canard. Generally, the people who love it are “right-wing anarchist” types. As a comic example, Robert Heinlein was attracted by right-wing anarchist ideas but learned enough to mostly get over it. I remember reading in one of his early stories he inserted one character lecturing another why the gold standard is a bad idea. It was clear that the elder Heinlein was disabusing the younger Heinlein of his fantasy.

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