Discussion in 'Economy' started by regent, Jul 15, 2012.
Has the Republican party advocated America return to the gold standard?
There are a few Republicans (as well as Democrats) that advocate a return to some kind of gold standard, but while virtually all politicians speak carefully so as to gain their votes, hardly anyone takes them seriously.
Inexpertly, a gold standard implies that two people can only trade goods & services, if there just so happens to be some shiny metal ore around. Factually, economies can operate on cigarettes, as the medium of exchange, even in the absence of shiny ore. Money represents a social agreement on value, and is as strong as said social compact. Logically, why should economic growth hinge upon how much of some particular atomic element (79) happens to have been accessible, near the surface of earth, and mined?
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