The Rise and Fall of the Gold Standard in the United States
There is, in informal discussions and even in some academic writings, a tendency to treat U.S. monetary history as divided between a gold...
Monetary disturbances have been either a major cause of or a key accentuating factor in business fluctuations. Maintaining a money of stable value through institutional reform would be socially beneficial. It is time to recognize the limits of activist monetary policy and to focus on long-run price stability as the Fed’s primary objective.
