Classical Economics in a Quantum World
The Trump presidency arrives at a time coincident with a unique monetary opportunity. The dollar price of gold (POG) at $1200 is at or near the equilibrium point where creditors and debtors are in balance. What this means is that…
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For sure, trade is not free. Tariffs are a means to raise revenue to fund government. There is nothing wrong with that. Tariffs funded the U.S. government almost exclusively until the introduction of the income tax in 1913. Combined with…
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The problem with free trade arises from the beggar-thy-neighbor belief that competitive currency devaluation results in a trade advantage. Without stable currencies that remain equal in value–an international gold standard–free trade becomes a race down the devaluation road. Then the…
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