I once checked this issue with a friend who works for the Canadian government as an economist, and he argued that while they were few and far between, there were, in fact, sensible economists who argued for a gold standard.
I almost always run into the "gold-bugs" as they are called in right-wing circles, but apparently once in a while one of them is not a "crank."
This assumes one can accept the fact that not everyone who is right-wing is a crank. Since the left is currently being out-organized by the right, I think the term "crank" is a little self-serving. By labelling right-wingers as "cranks" or "religious political extremists" or whatever, we get to feel superior while losing.
:-(
-Chip Berlet
> -----Original Message-----
> From: owner-lbo-talk at lists.panix.com
> [mailto:owner-lbo-talk at lists.panix.com]On Behalf Of Daniel Davies
> Sent: Thursday, February 27, 2003 7:51 AM
> To: lbo-talk at lists.panix.com
> Subject: Re: gold standard cranks
>
>
> >Please excuse my naiveté, but what is it about mentioning >the gold
> >standard that gets one branded a "crank"?
>
> Nathan is right. Basically, there has never in the history
> of everything
> been anyone who says "I am broadly in favour of the gold standard, but
> other economic issues are more important", or "On the balance
> of evidence,
> I tend toward the view that the gold standard would be the best of the
> available alternatives, but there are a few anomalies which
> tend to favour
> the other side".
>
> It's an intrinsically right-wing position too, in that it's
> anti-inflation
> and therefore pro-creditor. Also carries with it a touch of Adorno's
> f-type personality; shades of both a certain degree of mystic
> appeal of
> gold, and a generalised unwillingness to trust anyone (the
> entire economic
> argument is that you "can't trust" fiat currencies).
>
> Note, however, that one of the most famous opponents of the
> gold standard
> (back in the day in which it was a live issue) was William
> Jennings Bryan,
> so it is possible to be a crank and not favour a gold standard.
>
> dd
>
>
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