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An Austrian Critique of Jastram

May 6, 2005
Roy Jastrams' "The Golden Constant" is often cited as offering support for the arguments of the Goldbugs (by which term I seek to differentiate those who treat the metal as a fetish from the rest of us rationalists who know it would provide us with a much better money than the one we use today, but who resignedly acknowledge its restoration is politically unthinkable for exactly that reason). However, a logical consideration of Jastram's wholly empirical conclusions show there is less at which to be surprised than some seem to think. More here.

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