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2min chapter
Money, Coercion, and Government Policy with Noam Chomsky (WiM127)
The "What is Money?" Show
What Options Were Not Available to Government on a Gold Standard?
Mastew recalls his childhood when the country was on a gold standard. The new deal dropped restrictions to get the country out of the depression. But it didn't actually end the depression. Depression was ended by huge government expenditures, breaking all the rules in the second world war,. which was very beneficial to the economy. Nobody worked about the gold standards. Manufacturing practically quadrupleda huge technological developments laid the basis for post workan prosperity.
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