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I just discovered the 2018 book by George Gilder, The Scandal of Money: Why Wall Street Recovers and Main Street Never Does. I was surprised to find that this book has never been mentioned on FreeRepublic. I guess we've been distracted.

The last chapter, "The Return of Real Money", recalls the extraordinary success of the U.S. economy after WWII. A huge depression was predicted. But government spending and government regulations were eviscerated. The gold standard and fixed exchange rates prevailed due to the 1944 Bretton Woods agreement. And then ...

"There was no new depression, though, and the historic ascent of America saved the world economy from socialism. Economic growth surged by 10 percent over two years. The civilian labor force expanded by seven million workers. Released from wartime controls, the private sector launched a ten-year boom despite tax rates on investors as high as 91 percent. Compensating for the high top rates was an effective 50 percent tax cut through the enactment of the joint return for households. Released from regulations and tax burdens and freed from wartime stresses, large manufacturing corporations emerged as spearheads of global capitalism."
Gilder notes that similar policies created a huge economic boom in New Zealand in the 1980s, after a period of quasi-socialist stagnation. Ditto, Israel.

Gilder's recommendation is a return to the gold standard -- REAL MONEY -- with a blockchain infrastructure to enable gold-based micro-transactions.

826 posted on 04/19/2020 10:00:32 AM PDT by AZLiberty (4/12: The Resurrection will be echoed by the resurrection of the Constitutional Republic of the USA.)
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To: AZLiberty

Gilder was a prominent huckster of the Internet stock market bubble which burst in early 2000 resulting in one of the biggest stock market crashes of all time.

I would take anything he says with a grain of salt.


963 posted on 04/19/2020 2:45:12 PM PDT by Disestablishmentarian ("the right of the people peaceably to assemble")
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