By tying money and credit to a fixed supply of gold, the nation could prevent toxic surges in purchasing power. Sebastian Mallaby is the Paul A. Though the book is hardly a panegyric to Greenspan, Mallaby views his subject with considerable favor. Nevertheless, the book contains ample material for a more severe verdict: Greenspan abandoned the free market convictions he effectively defended early in his career as an economist.
Alan greenspan essay on gold
Stephen Williamson: New Monetarist Economics: Alan Greenspan and the Gold Standard
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Alan greenspan gold essay
GoldSeek Web. A large volume of new government bonds can be sold to the public only at progressively higher interest rates. Thus, government deficit spending under a gold standard is severely limited.
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