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BigTTYGothGFtoday at 4:24 PM3 repliesview on HN

> The Gilded Age, which had quite high levels of inequality, occurred when the gold standard was active

I've got some news for you about modern levels of inequality.


Replies

throw0101dtoday at 4:31 PM

I am aware of today's inequality (e.g., I read Piketty back when he was making a splash). But the critique is that Greenspan argued gold standard = less inequality and that fails on the historical record.

If we want to talk about the causes of the 'New Gilded Age' that's something else. As a general starting point I'd begin with:

* https://en.wikipedia.org/wiki/Friedman_doctrine

* https://en.wikipedia.org/wiki/Reaganomics

* https://en.wikipedia.org/wiki/Thatcherism

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curiousllamatoday at 4:31 PM

Yea, that's his point. The gold standard neither prevents nor encourages inequality, except inasmuch as it limits policy flexibility (which, similarly, could be used to promote or limit inequality).

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jimbokuntoday at 4:41 PM

Don’t those two data points suggest inequality is orthogonal to the gold standard?