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Thursday, April 4, 2013

I have changed my mind...10 reasons to re-establish the gold standard. Now I too have the Midas touch.


Anonymous said...

You were against the gold standard before you were for it, Professor Parker! Professors must be dogmatic! That's what tenure is for!

But, but-the price indexed to the value of potatoes; deflation, frequent and uninhibited panics, less gov't control through political romanticism, oh my! And according to Orszag, Krugman, et. al., inflation really has not had a drastic effect on the value of money! Say it ain't so! They do!

And what about the Bernank? Virtually interest-free money to large banks at the expense of inflation; what of those policies? Although, I shouldn't be angry with my unsubsidized, 6.8% gov't cheddar loan. Let me ride the edububble right into hell.

And, and-we need to shovel colossal bailouts to those who had larges swaths of wealth already. Don't ya know, without TARP the U.S. financial system as we know it (so lovely as it is/was/has been) would have collapsed; a financial system without Lehman Brothers, et. al.?!?! Why, I think a world without AIG and Lehman Brothers is akin to a world without tenure for economic professors; intolerable, stupid, crass, even mediocre! We can always do more! Also, I love my Chevy Volt; 30 miles on battery, then it's back to burning infanticidal petroleum again.

And carrying gold in our pockets as a medium of exchange? Ha! What of that sophomoric expression, Parker!?!

I just don't know what rhetoric to allow to be shoved down my throat anymore.

Randall Parker said...

Ah, I don't know how to tell you this but if you look at the date the article was published, the authors wrote it on April 1st.

You may want to read my most recent piece on the Great Depression in the Handbook of Major Events in Economic History that I co-edited with Robert Whaples.

Only decaf coffee for you from now on.