Is a Weak Dollar a Strong Sign? Not So Fast!
Posted in Not So Fast! on 14 October 2009
Stats: 151 views and 6 Comments Readers of George Orwell’s 1984 might recall Big Brother’s claims that “war is peace” or “freedom is slavery.” Orwell was writing a novel, but some of the commentary these days makes me think that elite economists have taken residence in Oceania’s “Ministry of Truth.” Today, the champion—the uncontested champion of Orwell’s ...
Posted in Not So Fast! on 14 October 2009
Stats: 151 views and 6 Comments Readers of George Orwell’s 1984 might recall Big Brother’s claims that “war is peace” or “freedom is slavery.” Orwell was writing a novel, but some of the commentary these days makes me think that elite economists have taken residence in Oceania’s “Ministry of Truth.” Today, the champion—the uncontested champion of Orwell’s ...
The Gold Standard
Posted in 101, Economics on 6 July 2009
Stats: 323 views and No Comments The gold standard is a monetary arrangement whereby the currency in circulation is equivalent to a fixed value of gold. The gold standard was replaced by fiat currency, whereby the government or central bank is ultimately responsible for the value of the money. Until 1971, the U.S. dollar was fixed to the ...
Posted in 101, Economics on 6 July 2009
Stats: 323 views and No Comments The gold standard is a monetary arrangement whereby the currency in circulation is equivalent to a fixed value of gold. The gold standard was replaced by fiat currency, whereby the government or central bank is ultimately responsible for the value of the money. Until 1971, the U.S. dollar was fixed to the ...
