Economy Buffs! Quick Question?

Question

During the 1930's FDR ended the so-called "Gold Standard." Anyway, would the ending of the gold standard be a liberal or conservative action?

Answer 1

As economics is the study of change-liberal-ending the gold Standard was very liberal. Conservatives hated him - but that was just one reason. Before 1913 the USA used gold and silver as coins-money. It did not matter where it came form as the Spanish coins were used as much as US. We then went on the gold st. and allowed money to be printed without backing of gold or silver but redeemable in gold or silver. Thus silver certificates.

Answer 2

Liberal, at the point, basically every major country in the world was using the gold standard. It was considered crazy for the US to break away and simply back money with stability of prices.

Answer 3

The terms you're thinking of simply didn't exist as we know them then. The term "left-wing", "progressive" and "liberal" meant not the big government-loving socialist movement it is today, rather it denoted what is known today as libertarians: denouncers of large, central-planning governments and advocates for personal freedom. No, this is not what conservatives today champion. Most conservatives today denounce government at home while proclaiming its abilities abroad. How can, for example, the same government that should not be permitted to engage in "nation-building" at home because of its woeful inadequacies be given free reign to try it elsewhere? Why should someone who believes the best protection of civil rights is a firearm think that the best protection of someone else's civil rights is the US Army?

The outlawing by law of ANY kind of private ownership is by definition a socialist move. The unconstitutional confiscation of personal property (gold) in order to facilitate the inflationary measures of a central bank is a statist move.

Answer 4

Liberal action.

Answer 5

liberal