Transcript
  • 00:00    |    
    Initial credits
  • 00:06    |    
    Introduction
  • 01:30    |    
    Free market in money
  • 02:29    |    
    Fractional reserve banking
  • 04:04    |    
    Warehouse certification
  • 04:42    |    
    Precious metals
  • 06:07    |    
    Regression theorem by Ludwig von Mises
  • 08:46    |    
    Adaptation to the real world
  • Role of banking
  • 11:28    |    
    Gold, silver, and copper regime
    • Money stock
    • Positive interest rates
  • 15:25    |    
    Virtues of a gold standard
    • Prevent government from printing money
    • Prevent inflation and enhance global trade
  • 20:07    |    
    First virtue: prevent government from printing money
    • Quotes n , Alan Greenspan
    • Quotes n , George Reisman
    • Benefits for congressional constituents
    • Quotes Ludwig Von Mises
    • Quotes n , Juan de Mariana
  • 27:27    |    
    Ways US government raises funds
    • Debt monetization
    • Interest of Treasury bonds
    • Foreign Treasury debt
    • Bracket creep
    • Quotes Dick Cheney
  • 33:51    |    
    Second virtue: end boom-and-bust cycles
    • Quotes "The Roots of America's Financial Crisis," Jeffrey Sachs
    • Quotes n , Charles P. Kindleberger
    • Quotes "Gold and Economic Freedom," Alan Greenspan
    • Cost of US recessions
  • 38:34    |    
    Third virtue: prevent price inflation
    • Milton Friedman's objection
    • Milton Friedman's fallacy
    • Price collapse
  • 45:42    |    
    Summary
  • 46:03    |    
    Question and answer period
    • Does anyone know how this idea would work in reality?
      • Gold supply availability
      • Free market innovation
    • Spontaneity of the gold standard
    • Government influence
    • Painful transition
    • Do you think that whoever has monetary supply, will have an incentive towards inflation?
      • Wildcat banking
      • Yield management
  • 01:06:42    |    
    Final words
  • 01:07:31    |    
    Final credits


Case for Gold as Money (Socratic Seminar)

New Media  | 17 de noviembre de 2011  | Vistas: 14

In this seminar, Gene Epstein explains how a free market in money would function and emphasizes its three principal advantages: preventing the government from printing money, ending boom-and-bust cycles, and preventing price inflation. Despite the objections to this proposal, Epstein believes it promises to be a more stable and predictable alternative to the current system. This presentation focuses on the gold standard, which would allow the development of this innovative idea. Epstein also discusses the role that government would play in this scenario.




Conferencista

Gene Epstein is Barron's economics editor and author of the column…

IDEAS DE LA LIBERTAD

Nuestra misión es la enseñanza y difusión de los principios éticos, jurídicos y económicos de una sociedad de personas libres y responsables.

Universidad Francisco Marroquín