Commentary
Judy Shelton has spent her career advocating sound money. Her latest book, “Good as Gold: How to Unleash the Power of Sound Money,” makes an up-to-date case for reinstituting a gold standard. Her intriguing conclusion is that the dollar can be reconnected to gold by simply issuing federal treasury bonds with gold-redeemability clauses. The book also addresses recent events and important current debates about monetary systems, such as whether central bankers should have wide policy discretion, whether fixed or floating exchange rates are better for economic growth, and what happens when countries manipulate their currency to boost exports.
