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dom1971
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"Reinstatement of the Dollar: a Blueprint" (Arthur Laffer, 1980)
- Nathan Lewis -
New World Economics
"I wonder what Laffer would consider a historical case of a major monetary event being caused by some gold-centric factor. I've never really found one. "
How about the Spanish conquest of the new world that brought a steady stream of gold from South America? Europe underwent such inflation that the prices of some staple goods rose by a factor of 600%-700% during that period. So much for gold always being stable.
A lot of gold bugs tend to omit this from their history lessons because it is a strong counter to the gold stability argument. But how could such an event occur today, without new continents to be found? Leaps in mining or gold extraction technology could do it (e.g. seawater - the worlds oceans contain thousands of tons of gold in the water itself). It won't be too long before space-drones could be scouring the asteroid belt for very large nuggets of gold and sending them back towards us to pick up. Who knows?
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Here's something that Arthur Laffer (who was also working closely with Chuck Kadlec at the time) put out in February 1980. Of course, in 1980 the dollar had been declining in value for a decade, and, at the time of this paper, had just had a real crash which brought its value momentarily to $850/oz. Mercantilist "easy money" was a disaster. There was a lot of talk at the time of reinstating a gold standard system, which at the time had been gone only nine years, sinc...
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chers Vladi,il est lor, oui, effectivement, et alors ? un fonctionnaire crée de la richesse ? creuser des trous crée de la richesse ? si nous arrêtions, pour voir, de payer nos impôts, vos 55, fonctionnaires compris, font quoi fin du mois ? merci d'expl
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