George Gilder, whose new book publishes today, is one of the original pillars of Supply Side economics. As stated by Discovery Institute, which he co-founded, “Mr. Gilder pioneered the formulation of supply-side economics when he served as Chairman of the Lehrman Institute’s Economic Roundtable, as Program Director for the Manhattan Institute….”
Lately we have been engulfed by headlines reporting financial turmoil on every continent, in almost every nation, large and small. The commissars of central planning who so marred the history of the 20th century have been replaced by central banks in the 21st. In Cyprus, the new leadership now dares to confiscate citizens’ wealth with a one-time tax of up to 60 percent on bank deposits above 100,000 euros. Self-interested prime ministers blame continental monetary policies for instigating the currency wars that they themselves surreptitiously carry on.
The True Gold Standard (Second Edition)
What Will New World Order Look Like?
Los Cabos in Mexico is by all accounts a delightful place: Chic hotels, excellent beaches and fine weather at this time of year. World leaders descending on the resort for this week's Group of 20 summit should make the most of what it has to offer. Nothing they discuss is likely to make any difference to the crisis raging in the global economy. The world is now a different place to 2009 when, at summits in London and Pittsburgh, the leaders of the world's largest economies believed they had "saved the world"—as then-U.K. Prime Minister Gordon Brown put it—with a massive fiscal and monetary stimulus and a comprehensive agenda to reform the financial system. At the time, the G-20's response was hailed as the start of a new world order. It may turn out to have been the last gasp of an old world order. That old world order began in 1944 at Bretton Woods in response to the Great Depression and the horrors that followed. One of its main architects was John Maynard Keynes, and his ideas have guided much of the current crisis response. The central challenge in the post-Bretton Woods era has been how to manage economies in the absence of the gold standard. The gold standard had many flaws, but the chief virtue of fixing the exchange rate and constraining the supply of credit was to stop politicians succumbing to the inevitable pressure to respond to crises by debauching the currency, resulting in long-term harm to the livelihoods and living standards of their citizens. Previous experiments in paper money had ended in disaster, most spectacularly in France in 1720. What the current crisis is testing is how far modern democracies are capable of submitting to the discipline needed to maintain faith in their currencies.     
America recently celebrated — well, maybe we didn’t celebrate – the 80th anniversary of Franklin Roosevelt’s action to end to the gold standard. But America is also celebrating – well, maybe not everyone is celebrating – the 100th anniversary of the legislation creating the Federal Reserve System.
As Lewis E. Lehrman...
Constitution.org provides an extensive and thoughtful Memorandum of Law by Larry Becraft, Esq., of Huntsville, Alabama, on Article I, Section 10, clause 1 of the US Constitution.
Sir William Blackstone courtesy of Wikipedia
One of many interesting matters the Memorandum treats is Blackstone's Commentaries, a book that was a fixture in the...
In the spring of 1933, global trade was being undermined by nationalistic economic responses to the Great Depression, including currency...
Sep 01, 1996
Key Monetary Writings
In Defense of Fiduciary Media - or, We are Not Devo(lutionists), We are Misesians!
The Murray Rothbard both of us knew was committed to a frank and vigorous contest of ideas. He understood that...
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Kathleen M. Packard, Publisher The Gold Standard Now
Board of Advisors: Senior Advisors Sean Fieler, James Grant, Senior European Advisor Advisors In Memoriam
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