Are there any recent and credible economists that support a return to the gold standard?

Andrew Simms Suggest Bio

Votes by Mark WangChris WatsonJason NicholsRobin Green, and 2 more.

No, this is based on uninformed political commentators and very few reputable economists. The vast majority of credible economists agree that re-adopting the Gold Standard would be a terrible mistake. 

As to why this would be a mistake 

  1. 1.     Gold has little intrinsic value beyond its historical use as a commodity currency.
  2. 2.     Adopting the Gold Standard would cause wild inflationary and deflationary cycles. This occurs because whenever gold is imported or exported from a country, it causes requisite price instability. Have a look at the late 1800's for evidence of terrible recessions/depressions, wild swings in prices and high unemployment.
  3. 3.     The Money supply can be controlled by central banks who hopefully have the best interests of their respective nations. Gold is a finite resource, meaning that the quantity and price can be controlled by central banks who hopefully have the best interests of their respective nations. Gold is a finite resource, meaning that the quantity and price can not be controlled which is very problematic in the case of monetary stability and efficient financial markets.

 

 

 

Ankit Jain, Growth Cook at Cucumbertown.com 

This is Alan Greenspan's article from his earlier days where he advocates a Gold Standard.


Gold and Economic Freedom