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An Austrian Critique of Jastram

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05/06/2005
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.

Sean Corrigan is the author of 'Money, Macro & Markets' newsletter & Consultant to Hinde Capital.

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