George Selgin joins us for a discussion about the gold standard. How did America get off the gold standard, and is there any chance of the country returning to it? Would it be a good idea to revive the standard?
Why gold in particular and not any other commodity? Is gold less valuable as money than in other applications, like electronics manufacturing?
Show Notes and Further Reading
Trevor asks whether people in Venezuela have started switching to Bitcoin, since Venezuela’s own currency is falling apart. According to this article from Jim Epstein in next month’s issue of Reason, that’s exactly what they’re doing.