Fiat Currency VS The Gold Standard

>>1483322
*two, fuck me

>>1483322
Introductory economics textbooks probably cover those. Try also economic history textbooks.

A Monetary History of the United States by Friedman and Schwarz, maybe.

If you can get access to a university repository of articles published in political/economic journals, then just trawl through them looking for material.

I'm not sure if Sci-Hub gets you into non-science stuff but you could try that too.

Be careful not to get bogged down in any libertarian propaganda. There are certainly arguments for returning to the gold standard, but they rise above /pol/-tier reasoning (and all arguments, on /pol/ or not, for a return to gold convertibility fall outside mainstream economic thought).

hey it's horace silver

>>1483435
Isn't the main argument that they won't be able to shove undeclared, de facto taxes down our throats through printing, and won't be able to subsidize failing businesses that we have to compete with through bail outs. The argument pro fiat seems to boil down to "muh war", and even then it would be feasible to borrow.

>>1483566
Aside from conspiracy theories about the Fed, the main argument for the gold standard is price stability. This is not borne out empirically, hence the gold standard not being mainstream.

The argument for fiat is about the ability to respond instantly to crises, war or not.

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143KB, 290x290px

>>1483322
https://www.youtube.com/watch?v=DyV0OfU3-FU

>>1483591
Printing money causing inflation isn't a conspiracy theory, lad.

>>1483624
Printing money can cause inflation, yes. The accusation that this is a de facto tax is sort of correct, but implied in that accusation is the idea that there wouldn't be inflation under the gold standard (i.e. there would be price stability). The record is murky at best for the gold standard providing price stability better than the current regime.

Proponents for the gold standard do not fall under mainstream economic thought and they have not for at least the past forty years.

>>1483322
belangp on youtube.

>>1483566
Fiat, or non-convertible currency, gives the government as much fiscal space as possible. Ideally it would use the functional finance approach (expand/contract net spending to maintain full employment and price stability). This approach is not sustainable under the gold standard because the government would be vulnerable to bond markets when it runs deficits.

>>1483624
"Printing money" doesn't cause inflation. Spending too much causes inflation. That's a pretty common rookie error.

It takes pretty severe circumstances for a government to actually cause hyperinflation with its spending. It would take extraordinary incompetence for a developed country to find itself in that boat.

I know you're about to spit one or both of these examples at me so here is the short explanation for both.
>Zimbabwe: Kick out all the farmers in a 75% agriculture-based economy
>Weimar Republic: Have your industry diminished after losing a war and then pay massive reparations in gold every month (btw, the hyperinflation stopped as soon as the reparations stopped)
Neither of the above was caused by fiat currency.