If You Like The Euro, You Should Love The Gold Standard

In Full Archive by Nathan Lewis

(This item originally appeared at Forbes.com on April 12, 2018.) https://www.forbes.com/sites/nathanlewis/2018/04/12/if-you-like-the-euro-you-should-love-the-gold-standard/#497b7ad32820   “If you like the euro, why not just call for a global gold standard?” asked Matthew Klein, of FT Alphaville. Good question! Klein is hardly a gold standard advocate. But, he saw …

After 34 Years, We Again Have A Bill To Relink The Dollar To Gold

In Full Archive by Nathan Lewis

(This item originally appeared at Forbes.com on April 6, 2018.) https://www.forbes.com/sites/nathanlewis/2018/04/06/after-34-years-we-again-have-a-bill-to-relink-the-dollar-to-gold/#4c768f7e64a7   The value of the dollar was linked to gold — that is, the U.S. used a “gold standard” — for most of the time between 1789 and 1971, a stretch of 182 …

The Yellen Gold Standard

In Full Archive by Nathan Lewis

(This item originally appeared at Forbes.com on April 2, 2018.) https://www.forbes.com/sites/nathanlewis/2018/04/02/did-we-just-enjoy-the-yellen-gold-standard/#38a188e523fa   On February 3, 2014, Janet Yellen’s first day in office at the Federal Reserve, the dollar’s value compared to gold was 1261:1, or “$1,261 per oz.” On February 3, 2018, her last …

Charles Adams Explains Why We Need Trump’s “Phase 2”

In Full Archive by Nathan Lewis

(This item originally appeared at Forbes.com on March 20, 2018.) https://www.forbes.com/sites/nathanlewis/2018/03/20/charles-adams-explains-why-we-need-trumps-phase-2/#34834ecf524c   Donald Trump recently mentioned the possibility of “Phase 2” of his tax reform plans, which I (along with T.R. Reid) think is a splendid idea. Since it would be nice to discuss …

Economic Nationalism

In Full Archive by Nathan Lewis

I thought that I would chew over the idea of “economic nationalism” for a bit, to see if we could find something useful in it. The neo-liberal free trade/no borders consensus is a little too easily promoted by many today, apparently without much thought. …

Where’s The Magic Formula?

In Full Archive by Nathan Lewis

(This item originally appeared at Forbes.com on March 3, 2018.) https://www.forbes.com/sites/nathanlewis/2018/03/02/wheres-the-magic-formula/#3a4e6da97a01   For some time, I’ve argued that a lot of economic policymaking boils down to the Magic Formula, which is: Low Taxes and Stable Money. There is more to it than this, of …

David Glasner Cheers For Hawtrey and Cassel

In Full Archive by Nathan Lewis

Today, we are doing a little more work regarding the Interwar Period, which was a big focus over the past two years. Specifically, we will look at a 2013 paper, “Pre-Keynesian Monetary Theories of the Great Depression,” by Ronald Batchelder and David Glasner. You …

The Floating Pound and Dollar, 1790-1830

In Full Archive by Nathan Lewis

Here is a bit of new data, regarding the floating pound during the Napoleonic Wars 1793-1821, and also the floating dollar during the War of 1812, 1812-1819. The source of the data is here: http://www.centerforfinancialstability.org/hfs.ph The data here is somewhat intermittent, so I plotted …

“Rules-Based” Monetary Proposals Won’t Create Stable Money

In Full Archive by Nathan Lewis

(This item originally appeared at Forbes.com on February 9, 2018.) https://www.forbes.com/sites/nathanlewis/2018/02/09/rules-based-monetary-proposals-wont-create-stable-money/#4b822c96128e I often say that governments should follow the “Magic Formula,” which is: Low Taxes and Stable Money. Good things happen to governments that do this, and bad things happen to those that don’t. …

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