Wednesday, 2 October 2013
For Struggling Middle Class Families, The Gold Standard Is No Fairy Tale
The primary argument being made on the right, in the capital, for the gold standard is its potential to boost creation of abundant good jobs. Only secondarily is it presented as a counter to inflation and nowhere as a means further to privilege the overprivileged. Unlike what Postel implies, few of the serious gold standard proponents are recommending gold as a speculative commodity investment. Most important, virtually all proponents of the gold standard (whether the proponents be the historicist classical or aspirational Austrian) wholeheartedly are committed to the prosperity of workers.