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Quotation of the Day…
Posted By Don Boudreaux On August 5, 2012 @ 6:06 am In History,Monetary Policy | Comments Disabled
… is from page 288 of my colleague Larry White’s stellar new book, The Clash of Economic Ideas ; here, Larry compares the 19th-century experience with the gold standard to the post-1971 experience with fiat money:
Even the most dramatic gold discoveries … generated inflation rates that were lower than the lowest inflation rates produced by fiat money systems since 1971.
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 The Clash of Economic Ideas: http://www.amazon.com/The-Clash-Economic-Ideas-Experiments/dp/1107012422/ref=sr_1_1?s=books&ie=UTF8&qid=1336056522&sr=1-1
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