The History of Bad Ideas: The Gold Standard

In the second episode in our series on bad ideas David talks to the political economist Helen Thompson about the gold standard, which was meant to anchor the world economy until it all fell apart a hundred years ago. Why does gold so often appear like a stable basis for money in an unstable world – and why not silver? What made the gold standard a source of instability instead?  How can money work if it has no material basis? And is quantitative easing a bad idea as well?

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Next time on The History of Bad Ideas: Kathleen Stock on Facebook Friends Hosted on Acast. See acast.com/privacy for more information.