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@ Undisciplined
2025-02-13 00:31:46
How to Reverse the Monetary Breakdown of the West | The Libertarian Institute
https://libertarianinstitute.org/articles/how-to-reverse-the-monetary-breakdown-of-the-west/
Joseph Solis-Mullen on the future of the dollar's dominance.
"For more than half a century, the global economy has operated under a monetary system divorced from gold. The 1971 collapse of the Bretton Woods system, where the U.S. dollar’s convertibility to gold was suspended, ushered in the fiat money era, a regime in which paper currencies are backed by nothing but government decree. Economist Murray Rothbard, in What Has Government Done to Our Money?, particularly in the chapter “The Monetary Breakdown of the West,” details how this transition has distorted economic incentives, weakened the real economy, and fueled financial speculation at the expense of productive investment."
So close, yet so far.
originally posted at https://stacker.news/items/884276