For most of the last three millennia, the world’s commercial
centers have used one or another variant of a gold standard. It
should be one of the best understood of human institutions, but
it’s not. It’s one of the worst understood, by both its advocates
and detractors. Though it has been spurned by governments many
times, this has never been due to a fault of gold to serve its
duty, but because governments had other plans for their currencies
beyond maintaining their stability. And so, says Nathan Lewis,
there is no reason to believe that the great monetary successes of
the past four centuries, and indeed the past four millennia, could
not be recreated in the next four centuries. In Gold, he makes a
forceful, well–documented case for a worldwide return to the gold
standard.
Governments and central bankers around the world today
unanimously agree on the desirability of stable money, ever more so
after some monetary disaster has reduced yet another economy to
smoking ruins. Lewis shows how gold provides the stability needed
to foster greater prosperity and productivity throughout the world.
He offers an insightful look at money in all its forms, from the
seventh century B.C. to the present day, explaining in
straightforward layman’s terms the effects of inflation, deflation,
and floating currencies along with their effect on prices, wages,
taxes, and debt. He explains how the circulation of money is
regulated by central banks and, in the process, demystifies the
concepts of supply, demand, and the value of currency. And he
illustrates how higher taxes diminish productivity, trade, and the
stability of money. Lewis also provides an entertaining history of
U.S. money and offers a sobering look at recent currency crises
around the world, including the Asian monetary crisis of the late
1990s and the devastating currency devaluations in Russia, China,
Mexico, and Yugoslavia.
Lewis’s ultimate conclusion is simple but powerful: gold has been
adopted as money because it works. The gold standard produced
decades and even centuries of stable money and economic abundance.
If history is a guide, it will be done again.
Nathan Lewis was formerly the chief international economist of a
firm that provided investment research for institutions. He now
works for an asset management company based in New York. Lewis has
written for the Financial Times, Asian Wall Street Journal, Japan
Times, Pravda, and other publications. He has appeared on financial
television in the United States, Japan, and the Middle East.
關於作者：
Nathan Lewis was formerly the chief international economist of
a leading economic forecasting firm. He now works for an asset
management company based in New York. Lewis has written for the
Financial Times, the Wall Street Journal Asia, the Japan Times,
Pravda, and other publications. He has appeared on financial
television in the United States, Japan, and the Middle East.
目錄：
Foreword by Addison Wiggin. Preface. Part I. Money in All its
Forms. Chapter
. Good Money Is Stable Money: A Barter Economy vs. a Money Economy.
Chapter
. Hard Money and Soft Money: Currency around the World--from
the
th Century BC to the
1st Century AD. Chapter
. Supply, Demand, and the Value of Currency: How the Circulation of
Money Is Regulated by Central Banks. Chapter
. Inflation, Deflation, and Floating Currencies: And Their Effect
on Prices, Wages, Taxes, and Debt. Chapter
. The Gold Standard: A Benchmark of the Value of Money that Creates
a Free Market. Chapter
. Taxes: How They Diminish Productivity, Trade, the Stability of
Money, and Overall Economic Health. Part II. A History of US Money.
Chapter
. Money in America: From Colonial Silver and Paper to the Turmoil
of
929. Chapter
. A History of Central Banking: From Ancient Egypt and Rome to the
Bank of England and the US Federal Reserve. Chapter
. The
930s: Bad Capitalism and a Failure of Monetary and Fiscal Policy.
Chapter
0. The Bretton Woods Gold Standard:
0 Years of Hard Currency Destroyed by Taxes in the
970s. Chapter
1. Volcker and Reagan: Monetarism Fails, But the Tax Cuts Succeed:
And the
980s Boom. Chapter
2. The Greenspan Years: The
987 Stock Market Crash, a Recession, Deflation, and a Slow Economic
Recovery. Part III. Currency Crises Around the World. Chapter
3. Japan''s Two Great Periods of Economic Success: Based on a Gold
StandardHard Currency and Low Taxes. Chapter
4. The Asia Crisis of the Late
990s: Worldwide Currency Turmoil and Economic Disaster Caused by a
Mismanaged US Dollar. Chapter
5. Devastating Currency Devaluations in Russian, China, Mexico, and
Yugoslavia. Chapter
6. A Return to Hard Currencies: Good Government Leads to Good
Money. Notes.
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