Return to Gold Standard a Big Mistake

David PesciAugust 29, 20121min
Professor Grossman says embracing the failed policy of the gold standard will increase economic volatility

In an OpEd for The Los Angeles Times, Richard Grossman, professor of economics, says that the Republican National Convention platform’s call for a study on reestablishing the gold standard is relatively harmless–that is, as long as the gold standard is not actually adopted. Grossman says, “being a conservative should not mean promoting policies that have not worked for 100 years.”