It’s election day across America! Get out and vote for the supply-siders!
Ralph Benko continues his “Eichengreen Fallacy” commentary at Forbes.com:
The classical gold standard — an early casualty of the First World War — was not, indeed could not have been, the culprit. There is a subtle yet crucial distinction between the gold-exchange standard, which indeed precipitated the Great Depression, and the classical gold standard, which played no role. There is much to be said for the classical gold standard as a policy conducive to equitable prosperity. It commands respect, even by good faith opponents.
For the discourse to proceed we first must lay to rest the Eichengreen Fallacy (and all that is attendant thereon). Once having dispelled that toxic fallacy let the games begin and let the best monetary policy prescription win.
Also, 90 years ago today Calvin Coolidge was elected President. Matt Lewis interviews Author and historian David Pietrusza, listen to it here: