Return to the Gold Standard?
When it comes to a return to the gold standard, my newest favorite financial writer, Randall Forsyth, vehemently disagrees with my older favorite financial writers, like Rothbard and, to some extent, Allan Meltzer (though Meltzer says the gold standard could work for the U.S. only if the rest of the world adopted it as well). Forsyth derides the idea. I tend to side with the Rothbardians on this, but my knowledge of the matter is only a scintilla of Forsyth’s so I won’t endeavor to dispute his points.
I like reading people like Forsyth because he’s clearly a writer of honesty and goodwill . . . and he ain’t no Keynesian. If you want to see an honest account of the gold standard arguments, by a guy who then attempts to refute them, check the article.
Sloppy Science, Episode 1,009,992
One of my newest regular reads, Mangan, points out that, though he has little doubt that cigarette smoking is bad for you, the anti-smoking science is much weaker than people suppose: The Scientific Scandal of Anti-Smoking.
While the process of inhaling smoke that contains hundreds of carcinogenic chemicals, hundreds of times daily over a period of decades, seems intuitively bad for health, selection effects may account for much or most of the damaging effects of cigarettes. Simply put, smokers are presumably also those with lower IQ, greater impulsivity,
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