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Gold and 100-Percent Reserves

In: Money, Banking, and the Business Cycle

Author

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  • Brian P. Simpson

Abstract

By getting rid of fiat money and fractional-reserve banking and establishing a completely free market in money and banking, one can vastly improve an economic system. One can essentially eliminate the business cycle. I will discuss the few, minor exceptions below. One can virtually eliminate both inflation and deflation. One can make it harder for the government to interfere in the economy. One can also increase the ability of individuals in the economy to save, accumulate capital, and raise the productivity of labor and standard of living. In this chapter, I focus on these benefits of gold and 100-percent reserves, as well as many others.

Suggested Citation

  • Brian P. Simpson, 2014. "Gold and 100-Percent Reserves," Palgrave Macmillan Books, in: Money, Banking, and the Business Cycle, chapter 7, pages 219-242, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-33656-9_8
    DOI: 10.1057/9781137336569_8
    as

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